European markets opened higher this morning and are currently trading on the green side, influenced by a brand new portion of financial statements and extending their yesterday’s gains. At the time of writing, Germany’s DAX30 is going up 0.59% to 9,502.18, France’s CAC40 is a bit hesitant at +0.01%, while the UK’s FTSE100 is enjoying a steady morning so far, rising by 0.52% to 6,735.26. German semiconductor manufacturer Infineon Technologies AG is the top earner in the DAX30 at the moment, advancing by 4.44% as most of the benchmark companies are on positive territory. The FTSE100‘s best performer is global biopharmaceutical company Shire PLC, whose shares are going up by 3.50% at the moment
US stock market started the new week with a high volatility during yesterday’s session as the major indices went from negative to positive and vice versa before landing on the green side of the charts. Strong data on the US Pending Home Sales, which revealed its biggest rise in nearly three years, or a 3.4% growth in March, also supported the indices’ performance.
The Dow added 87.28 points to its value, or 0.5%, to close the session at 16,448.74, with 22 companies within the benchmark registering increases. Pfizer Inc. was the biggest gainer, going up by 4.2%, while Nike Inc. reported its worst performance for the day falling by 1.4%. The technological Nasdaq Composite ended at 4,074.40 while the S&P500 closed just below 1,870 points, or an increase by 0.3%. Companies in the telecommunications sector were the best performers, gaining more than 1.1%, while financial companies reported the largest decline for the day, slipping by almost 0.5%.
Wall Street is gearing for a positive opening today, as early signs suggest. However, ahead of the FOMC meeting tomorrow, some investors may prefer to stay cautious, waiting for more clues on the Fed’s future policy. The US earnings season is in full speed now, with corporate financial statements also affecting the markets. Some of today’s earnings releases include: BP Plc., eBay Inc., LG Electronics Inc., Samsung Electronics Co Ltd and Twitter Inc.
On the economic calendar front, the rest of day will see the UK’s Gfk Consumer Confidence for April, the Preliminary release of Japan’s Industrial production for March (YoY and MoM) and the US Consumer Confidence for April.
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