MARKET SNAPSHOT: Stocks Tread Water Near Records As Investors Await Earnings Deluge

Data : 17/07/2017 @ 16:01
Fonte : Dow Jones News
Titolo : FTSE 100 (UKX)
Quotazione : 7452.91  -34.96 (-0.47%) @ 17:35
Quotazione FTSE 100 Grafico

MARKET SNAPSHOT: Stocks Tread Water Near Records As Investors Await Earnings Deluge

Grafico Azioni Bank of America (NYSE:BAC)
Storico

1 Mese : Da Giu 2017 a Lug 2017

Clicca qui per i Grafici di Bank of America

By Barbara Kollmeyer, MarketWatch , Ryan Vlastelica

BlackRock reports, Netflix earnings ahead for Monday

U.S. stocks were little changed on Monday, with major indexes trading near record levels as investors looked ahead to key quarterly results that will be released this week. Corporate quarterly results may help to shed light on whether current levels are justified by economic activity at American corporations.

The Dow Jones Industrial Average fell 16 points, or 0.1%, to 21,621, coming off an all-time closing high on Friday. The S&P 500 , which also ended at a record Friday, dipped 0.4 point to 2,459. The Nasdaq Composite Index rose 4.5 points to 6,317, a gain of 0.1%.

Need to know:Investors should pay attention to this 'chart of the week, month and potentially year' (http://www.marketwatch.com/story/investors-should-pay-attention-to-the-chart-of-the-week-month-and-potentially-year-2017-07-17)

Whether stocks can extend further into record territory hinges partly on the outcome for earnings, with investors looking for signs that valuations are justified by the strength of corporate results, particularly given doubts about Washington's ability to deliver a roster of Wall Street-friendly legislations.

Some 68 S&P 500 companies will report this week, according to FactSet. Those include Bank of America Corp.(BAC), Goldman Sachs Group Inc.(GS), Microsoft Corp.(MSFT) and General Electric Co.(GE).

Read:Stock market poised to ride stellar earnings to new heights (http://www.marketwatch.com/story/stock-market-poised-to-ride-stellar-earnings-to-new-heights-2017-07-15)

What will give stocks a push higher: While earnings are important, tax legislation remains the most important political issue for U.S. stocks, said Michael J. Wilson, equity strategist at Morgan Stanley, in a note to clients on Monday.

He said equity multiples must expand again for the S&P 500 to reach their 2017 target of 2,700, but the catalyst on that expansion would likely be "more policy 'certainty' rather than the outcome itself.

"No matter what gets passed in the next few months, we think just moving forward with a decision on the Affordable Care Act and taxes will provide the certainty necessary for companies and individuals to "act" on their higher confidence readings which have remained elevated," said Wilson.

The latest economic data was cautious, with the New York Fed's Empire State manufacturing index (http://www.marketwatch.com/story/empire-state-manufacturing-index-retreats-in-july-from-two-year-high-2017-07-17)falling to a seasonally adjusted reading of 9.8 from 19.8 in June. Analysts were looking for a reading of 15.

Stocks to watch: Investment manager BlackRock Inc.(BLK) slipped 2.8% after reporting a profit and sales miss (http://www.marketwatch.com/story/blackrocks-stock-set-to-slip-after-profit-sales-miss-2017-07-17), despite massive inflows into its low-fee exchange-traded funds. Streaming giant Netflix Inc.(NFLX) is due to report its results after the close; the stock rose 1.3% in early trading. Read a Netflix preview here (http://www.marketwatch.com/story/netflix-earnings-subscriber-additions-is-key-along-with-content-spend-2017-07-12).

Shares of J.B. Hunt Transport Services Inc.(JBHT) slipped 0.1% after posting a profit that was below expectations (http://www.marketwatch.com/story/jb-hunts-stock-drops-after-profit-falls-below-expectations-2017-07-17).

Read:Four key sectors to watch closely this earnings season (http://www.marketwatch.com/story/four-key-sectors-to-watch-closely-this-earnings-season-2017-07-13)

Other markets: In China, the Shanghai Composite Index closed down 1.4% (http://www.marketwatch.com/story/china-stocks-sink-after-central-banks-liquidity-injection-2017-07-16), but off earlier lows as data showed expansion in the world's second-biggest economy beat forecasts with 6.9% second-quarter growth (http://www.marketwatch.com/story/chinas-economy-beats-outlook-grows-69-in-q2-2017-07-16). Helping to spark the selling, Chinese officials at a financial conference hinted at tighter controls on the economy.

Opinion:China is playing a weak hand with the U.S (http://www.marketwatch.com/story/china-is-playing-a-weak-hand-with-the-us-2017-07-17).

European stocks traded mixed, with the FTSE 100 index gaining, but Germany's DAX 30 falling.

Oil prices (http://www.marketwatch.com/story/crude-prices-start-the-week-on-an-upbeat-note-2017-07-17) and gold futures were slightly higher. The dollar was slightly lower. Meanwhile, the benchmark 10-year Treasury note yield was at 2.31%.

 

(END) Dow Jones Newswires

July 17, 2017 09:46 ET (13:46 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
La tua Cronologia
BIT
BMPS
Monte Pasc..
BITI
FTSEMIB
FTSE Mib
BIT
UCG
Unicredit
NASDAQ
AAPL
Apple
FX
EURUSD
Euro vs Do..
Le azioni che visualizzerai appariranno in questo riquadro, così potrai facilmente tornare alle quotazioni di tuo interesse.

Registrati ora per creare la tua watchlist personalizzata in tempo reale streaming.

Per accedere al tempo reale push di Borsa è necessario registrarsi.

Accedendo ai servizi offerti da ADVFN, ne si accettano le condizioni generali Termini & Condizioni

P:35 V:it D:20170722 04:39:48