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Stocks Open Mixed as Investors Look at Earnings Reports | national news


Stocks had a mixed start on Wall Street as traders weighed in another slew of corporate earnings reports, which were well ahead of analysts’ forecasts. They also remain cautious about the spread of the more contagious delta variant of COVID-19. The S&P 500 was up just under 0.1% at the start of Monday. Clorox fell 11% after reporting lower than expected results, while Ralph Lauren was up 9% after its results exceeded estimates. U.S. shares of Tencent fell 3.5% after China’s largest games company said it would limit play time for minors.

THIS IS A CURRENT UPDATE. AP’s previous story follows below.

BEIJING (AP) – European stocks opened higher on Tuesday as Asian markets fell as nervousness over the spread of the delta variant of the coronavirus in China and the United States dampened enthusiasm for the solids corporate profits.

London and Frankfurt progress while Shanghai, Tokyo and Hong Kong decline.

Wall Street futures were higher after the benchmark S&P 500 closed lower on Monday, weighed down by declines in tech, energy, industrials and communications stocks.

Investors have been encouraged by surprisingly high profits in the United States, but are more concerned as China, the United States and other governments try to stop the spread of the more contagious delta variant.

“Concerns (are) growing again that the global recovery could be disrupted by the virus,” Oanda’s Jeffrey Halley said in a report.

“What scares the markets is China,” said Halley. “It’s not huge in scope to extrapolate even more supply chain disruption, especially if it turns out to be as difficult for Chinese authorities to control as it is for officials around the world.”

In early trading, the London FTSE 100 gained 0.3% to 7,103.62 and the DAX in Frankfurt gained less than 0.1% to 15,579.92. The CAC 40 in Paris rose 0.8% to 6,727.16.

On Wall Street, the future of the S&P 500 index was up 0.3%. The Dow Jones Industrial Average was 0.4% higher.

On Monday, the S&P 500 slipped 0.2% while the Dow Jones fell 0.3%. The Nasdaq composite added 0.1%.

A fall in technology, industrial, raw materials and communications companies weighed on the market. Energy stocks also fell alongside crude oil prices. Gains in healthcare stocks, utilities, and various retailers and other businesses that rely on direct consumer spending helped contain the losses.

In Asia, the Shanghai Composite Index fell 0.5% to 3,447.99 and the Nikkei 225 in Tokyo fell 0.5% to 27,641.83. The Hang Seng in Hong Kong was down 0.2% to 26,194.82.

South Korea’s Kospi gained 0.4% to 3,237.14 and Sydney’s S & P-ASX 200 lost 0.2% to 7,474.50.

India’s Sensex index rose 1.1% to 53,516.34. New Zealand and Singapore fell while Bangkok and Indonesia gained.

Investors have been eagerly awaiting US employment data due to be released on Friday to see if hiring has held up.

On Monday, US markets appeared to ignore a report from the Institute for Supply Management, a trade group, that said manufacturing slowed in July. Many businesses are held back by supply chain disruptions.

Also this week, some 150 S&P 500 companies are due to release their results.

In energy markets, benchmark US crude rose 32 cents to $ 71.58 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, the contract fell from $ 2.69 to $ 71.26. Brent crude, the basis of international oil prices, added 30 cents to $ 73.19 a barrel in London. It fell from $ 2.52 the previous session to $ 72.89 a barrel.

The dollar fell to 109.16 yen from 109.25 yen on Monday. The euro gained $ 1.1882 against $ 1.1874.

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