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The Closing Bell: U.S. Stocks Inch Lower Ahead Of Quarterly Earnings

TedTed
edited April 2019 in The Bullpen
The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)

FYI: U.S. stock prices edged lower Thursday, as traders said markets were in a holding pattern ahead of the first big batch of quarterly earnings results set to arrive Friday morning.

The S&P 500 was flat, while the Dow Jones Industrial Average fell 0.05%. The Nasdaq Composite declined 0.21%.

Earnings season begins in earnest on Friday when JPMorgan and Wells Fargo report results. Next week several corporate heavyweights are slated to file their quarterly earnings.

Before the stock market opened, traders were greeted with the latest read on business prices, which indicated that inflation is firming after a soft patch around the end of last year.

In Europe, the Stoxx Europe 600 was up 0.1% after falling earlier in the session. That followed mixed trading in Asia.

The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was up 0.3%. The 10-year U.S. Treasury yield rose slightly to 2.483%. Yields move inversely to prices.

European Central Bank President Mario Draghi said Wednesday that Europe’s economic slowdown would continue this year.

Faltering growth around the world has led to a dovish tilt for central banks. That has been a welcome development for investors after a bruising winter when expectations of rate rises helped send stocks into a tailspin.

The British pound was broadly flat Thursday after European Union leaders agreed to postpone Brexit until Oct. 31 to allow British Prime Minister Theresa May more time to try to get the U.K.’s Parliament to approve the country’s divorce deal.

In Asia, Hong Kong’s Hang Seng fell 0.9% while Japan’s Nikkei was up 0.1%.

Of the eleven S&P 500 Sectors, seven were up and four down. Industrials and Financials led the winners while Healthcare and Technology led the laggers.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-04-11/your-evening-briefing

MarketWatch:
https://www.marketwatch.com/story/us-stocks-aim-for-slight-gains-as-investors-brace-for-bank-earnings-wrestle-with-ebbing-growth-2019-04-11/print

WSJ:
https://www.wsj.com/articles/global-stocks-slip-after-fed-signals-caution-11554968346

Bloomberg:
https://www.bloomberg.com/news/articles/2019-04-10/asia-stocks-set-for-mixed-start-bonds-climb-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-rallies-but-still-fades-godaddy-fastenal-make-moves/

Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-dips-ahead-of-big-bank-earnings-idUSKCN1RN1GU

CNBC:
https://www.cnbc.com/2019/04/11/stock-market-us-futures-fairly-flat-as-investors-digest-fed-minutes.html

U.K.:
https://uk.reuters.com/article/uk-britain-stocks/brexit-delay-lifts-mid-caps-to-six-month-high-growth-fears-bruise-ftse-100-idUKKCN1RN0UM

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-recover-airline-stocks-zoom-on-brexit-delay-idUSKCN1RN0TY

Asia:
https://www.marketwatch.com/story/australia-which-called-new-elections-thursday-leads-asia-markets-lower-in-early-trading-2019-04-10/print

Bonds:
https://www.cnbc.com/2019/04/11/bonds-treasury-yields-edge-lower-as-investors-digest-fed-minutes.html

Currencies:
https://www.cnbc.com/2019/04/11/forex-market-fed-meeting-minutes-brexit-extension-in-focus.html

Oil:
https://www.cnbc.com/2019/04/11/oil-market-us-crude-stockpiles-opec-supply-cuts-in-focus.html

Gold
https://www.cnbc.com/2019/04/11/gold-market-dollar-moves-dovish-fed-and-ecb-in-focus.html

WSJ: Markets At A Glance:
https://markets.wsj.com/us

Major ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitor

SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

SPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectors

Current Futures:
https://finviz.com/futures.ashx
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