Global Stocks Wobble as Earnings Season Gets Under Way
July 17 2019 - 5:53AM
Dow Jones News
By Lauren Almeida
-- U.S. Treasury yields fall
-- Crude oil prices rise
Asian stocks mostly weakened Wednesday after President Trump's
comments in a White House cabinet meeting signaled enduring
tensions with China over trade and technology.
In Europe, the Stoxx Europe 600 switched between small losses
and gains ahead of another day of major U.S. earnings.
Bank of America's results are due Tuesday and investors will
want to know whether low interest rates have benefited its consumer
business, as they have for other major U.S. banks. Netflix, eBay
and Alcoa are due to report later in the day.
U.S. stocks fell from a record high Tuesday after Mr. Trump said
the government would examine national-security concerns around
Google's ties to China.
Meanwhile, Federal Reserve Chairman Jerome Powell told an
audience in Paris on Tuesday that the central bank is "carefully
monitoring" downside risks to U.S. growth, strengthening
expectations of an interest-rate cut.
The yield on 10-year Treasurys fell to 2.102% Wednesday from
2.124% Tuesday. Yields fall when bond prices rise. The WSJ Dollar
Index, which measures the currency against a basket of peers, was
flat.
Elsewhere, bitcoin fell by about 0.6%, trading below $10,000 for
a second day as U.S. senators questioned Facebook over its proposed
Libra cryptocurrency, highlighting the skepticism that digital-coin
systems face from regulators.
Bitcoin, the world's most popular cryptocurrency, has lost
almost a third of its value, according to prices from research site
CoinDesk, after trading above $13,000 a week ago, which was near
its high for the year.
The U.S. Commerce Department is set to release June housing
starts data later Wednesday. Economists surveyed by The Wall Street
Journal expect housing starts climbed 0.1% in June.
Global oil benchmark Brent crude rose by 0.8% to $64.85 a
barrel. Gold was down by 0.6%.
Write to Lauren Almeida at lauren.almeida@wsj.com
(END) Dow Jones Newswires
July 17, 2019 05:38 ET (09:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.