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Fighting stocks on weak earnings; Euro Strengthens Markets Wrap



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N US Equity F & # 39; yuchersy and European shares edged lower on Tuesday, Asian stocks slipped after it arrived in the world's largest handset maker in Google father alphabet disappointed investors. Treasuries were stable on the day before the next Fed policy decisions.

Stoxx Europe 600 pushed into the red, led by a decline in telecommunications and mining shares, and f & # 39; yuchersy the S & P 500 also pointed to a soft open in New York. Tech stocks were ready to retreat following worse-than-expected results of the alphabet after the close on Monday, and after profit Korean giant Samsung Electronics missed analysts' estimates recently reduced. The stock market in Hong Kong, South Korea and Australia all fell, although trading was quieter than usual, due to the holiday in Japan. Shares rose in Shanghai, despite poor Chinese manufacturing data. The euro added to gains after the beating estimates of regional GDP and inflation in some regions of Germany accelerated in April.

After a strong start to the year, many stock and bond markets, appear to lack direction this week. Traders will be looking for signals from economic data, the Fed's policy meeting on Wednesday and earnings reports from the likes of Apple, GE and McDonald's.

"This is not a stellar earnings season – I do not think anyone expected that," said Nick Nelson, head of European equity strategy at UBS, on Bloomberg Television. "But it is certainly better than in the fourth quarter. And this is consistent with some of the stabilization in the wider data in the euro zone and the emerging markets in China. "

At the same time, the next round of trade negotiations between the US and China will get under way this week, important issues are still unresolved. But law enforcement mechanisms "close to done," according to the Minister of Finance Steven Mnuchin.

Elsewhere, South Korea's won fell to a fresh two-year low against the dollar after a miss came from Samsung and disappointing data of China.

Here are some typical events this week:

Companies reporting earnings include: Apple, GE, Pfizer, HSBC, Macquarie, Royal Dutch Shell and McDonald & # 39; s.U.S. Trade Representative Robert Lighthizer and Finance Minister Steven Mnuchin landed in Beijing on Tuesday and will go into a new round of negotiations before the Deputy Prime Minister & # 39; China Liu He ep travels to Washington next week. China and the United States hope to close the transaction by the decision rate at the beginning of May.The Fed is on Wednesday, while the Bank of England sets interest rates brings Thursday.Friday US jobs report: in the non-agricultural sector is projected to increase to 187,000 in April. Economists expect the unemployment rate of 3.8 percent, an average increase in the hourly wages of charging to 3.3 percent.

These are the basic steps in the markets:

stock

F & # 39; yuchersy on the index S & P 500 fell by less than 0.05 percent as at 6:21 am in New York time.The Stoxx Europe 600 Index slipped 0,2 percent.The Shanghai Composite Index rose 0.5 percent, the biggest increase in more than a week.The MSCI Asia Pacific Index fell by 0,1 percent.The MSCI Emerging Market Index fell by 0.2 percent.

currency

Spot Bloomberg Dollar Index fell 0.1 percent.The euro rose 0,2 percent.The MSCI Emerging Markets Index currency fell by 0.1 percent.The South Korean won fell 0.8 percent to the weakest in more than two years.

bonds

The yield on two-year Treasury note fell one basis point to 2.28 percent.The yield on 10-year Treasuries rose less than one basis point to 10 years 2,53 percent.Japan yield was unchanged at -0.04 per cent.

goods

Gold rose 0.4 percent to $ 1,285.12 ounce.West Texas Intermediate crude rose 1 percent to $ 64.14 a barrel, the biggest progress in week.LME copper increased by 0.8 percent, the biggest rise in almost two weeks. Iron ore rose 2 percent to $ 93.40 per metric ton, the highest in more than two weeks.

–With assistance from Todd White, Joanna Ossinger and Andreea Papuc.

To contact the reporter on this story: Todd White in Madrid twhite2@bloomberg.net

To contact the editors responsible for this story: Samuel Potter spotter33@bloomberg.net, Christopher Anstey in canstey@bloomberg.net

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