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TODAYS NEWS FOR 04-22-2019
ed as the busiest week of earnings season kicks off
Pay close attention to margins, strategist says
Stocks were little changed on Monday as Wall Street braced for the busiest week of the earnings season.
The Dow Jones Industrial Average fell 44 points, while declines in the materials and real estate sectors kept the S&P 500 trading flat. The Nasdaq Composite was also trading around breakeven.
Boeing contributed the most to the Dow’s losses, falling 0.9% after The New York Times reported that workers at the company’s 787 jet plant have complained about shoddy production and bad safety practices.
More than 140 S&P 500 companies are scheduled to release their quarterly results this week, including Coca Cola, Procter & Gamble, United Technologies, Verizon, Twitter, Lockheed Martin and eBay. Facebook, Microsoft and Tesla Motors are also set to report later this week.
Asia markets mixed; oil prices surge on report that US is set to end Iran
Stocks in Asia were mixed.
Crude prices surged on a report that the U.S. will cease to grant sanctions waivers to countries that import oil from Iran.
Meanwhile, major oil producer Libya’s capital Tripoli was hit by a series of airstrikes and explosions over the weekend.
European stocks close higher as investors shrug off weak data, look to strong
European stocks closed higher on the final day of a shortened trading week, as investors looked past weak euro zone data to fresh corporate earnings.
The pan-European STOXX 600 closed provisionally up almost 0.2%, with sectors and major bourses largely in positive territory.
Equities initially turned negative after the release of weak manufacturing PMI numbers out of France and Germany. German manufacturing data came in below expectations, while France’s data also showed a decline in output.
PMI data for the euro zone came also came in below forecasts, stoking concerns of a slowdown in the region. The euro fell to a one-week low against the dollar after the figures were released.