虚拟币峰会
French Manufacturing Sentiment Deteriorates In October
(RTTNews) - France's manufacturing confidence weakened sharply in October, survey data from the statistical office INSEE showed on Thursday.
The business climate index fell to 92 in October from 99 in September. The score deviated sharply from its long-term average of 100.
Moreover, excluding the COVID-19 pandemic period, this was the biggest monthly fall since November 2008.
The balance of opinion on personal production expectations decreased sharply to -3 from +6 in the previous month. However, the one relative to general production prospects in the industry dropped only slightly to -12 from -11.
The balances of opinion associated with the level of order books, both overall and foreign, deteriorated and fell below their respective averages. They have reached their lowest level since the beginning of 2021.The overall order book balance registered -26 and foreign order books slid to -23.
The decline in the past production index doubled to -12 from -6. At the same time, the finished-goods inventory surged to 17 from 7.
Regarding the workforce size, the balance of opinion on its past change was stable at -3, while the one on its future change diminished to -2.
The balance of opinion relating to the expected trend in selling prices over the next three months increased anew to 6 from 2 and has returned above its average.
The economic uncertainty felt by business leaders clearly rebounded and has moved closer to its average. The corresponding index improved to 26 from 20.
Confidence among business managers from the main sectors, namely manufacturing, construction, services, retail and wholesale trade, weakened slightly in October. The overall business confidence index registered 97 compared to 98 in the previous month.
European Shares Seen Broadly Lower; FTSE 100 May See Firm Start
(RTTNews) - European stocks are seen opening broadly lower on Thursday even as U.K. markets may open on a firm note following declines for four straight sessions.
The U.K.'s new government will announce the Autumn Budget on 30 October. The Chancellor will be balancing spending cuts and tax increases with measures to stimulate growth.
Trading later in the day may be impacted by reaction to the latest U.S. economic data, including reports on weekly jobless claims, manufacturing and services PMI for October and new home sales for September.
Flash Purchasing Managers' survey data from the euro area and the U.K. are also awaited later in the day.
On the earnings front, EV maker Tesla reported robust third quarter profits and surprised analysts with a prediction for a 20-30 percent growth in sales next year.
Tech giant IBM's Q3 earnings beat expectations but revenue missed views. Likewise, Mattel, the manufacturer of Barbie and other popular toys, topped Wall Street estimates for quarterly profit but trimmed its annual sales forecast.
Asian stocks traded mixed, with Chinese and Hong Kong markets underperforming as tech shares fell on concerns the U.S.-China trade tensions may worsen.
Gold edged up slightly in Asian trading and was on track for a weekly gain due to investor anxiety over the impending U.S. election and heightened tensions in the Middle East.
A new national poll has indicated that former President Donald Trump was gaining an edge over Vice President Kamala Harris in the race to succeed President Biden in the White House. However, markets still expect a hotly contested race.
Oil prices rose more than 1 percent and were on track for a 3 percent weekly gain.
U.S. stocks fell overnight as rising bond yields and uncertainty about the outcome of the Nov. 5 presidential election triggered a sell-off in the world's largest technology companies.
The 10-year yield rose to its highest level in almost three months amid bets the Federal Reserve will take a more measured approach on rate cuts.
The Dow dropped 1 percent and the SP 500 declined 0.9 percent to extend losses into a third straight day, while the tech-heavy Nasdaq Composite tumbled 1.6 percent.
European stocks fell for a third straight session on Wednesday as investors reacted to mixed corporate earnings and looked ahead to the U.K. autumn budget.
The pan-European STOXX 600 dipped 0.3 percent. The German DAX slipped 0.2 percent, France's CAC 40 gave up half a percent and the U.K.'s FTSE 100 dipped 0.6 percent.
German Private Sector Downturn Eases In October
(RTTNews) - Germany's private sector downturn slowed marginally in October as output dropped at a slightly slower pace and business expectations picked up, the latest HCOB Purchasing Managers' survey compiled by SP Global showed Thursday.
The flash composite output index rose to 48.4 in October from September's seven-month low of 47.5. The score was also above forecast of 47.6.
Nevertheless, the reading remained below the 50.0 threshold separating growth from contraction, as has been the case in each month since July.
The services Purchasing Managers' Index hit a three-month high of 51.4, while the score was seen at 50.6, unchanged from September.
The manufacturing PMI climbed to a three-month high of 42.6 from 40.6 in the previous month. Economists had forecast the index to rise marginally to 40.7.
Data again highlighted weakness in underlying demand, with inflows of new business falling steeply and for the fifth straight month in October.
There was further a sharp decrease in outstanding business. As a result, firms reduced staffing. Employment decreased for the fifth consecutive month.
However, firms expecting a rise in activity over the coming year outnumbered those predicting a decline. Still business expectations remained well below the long-run series average.
On the price front, average prices charged were broadly unchanged in October. Meanwhile, average input costs increased at a moderate rate that was little-changed for September's 14-month low.
"GDP may stay flat for the whole year as forecasted by the International Monetary Fund in its latest projection, after a 0.3% decline in 2023," Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said.
"Manufacturing will most probably continue to be in a recession in the fourth quarter, but it may start the next year on a better footing, although this assessment based on a one-month improvement should be taken with caution," de la Rubia added.
Australian Market Slightly Higher
(RTTNews) - The Australian market is trading slightly higher on Thursday after opening in the red, adding to the slight gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark SP/ASX 200 is moving up to stay above the 8,200 level, with gains in some energy and technology stocks partially offset by weakness in mining stocks.
The benchmark SP/ASX 200 Index is gaining 14.10 points or 0.17 percent to 8,230.10, after hitting a low of 8,183.80 and a high of 8,228.70 earlier. The broader All Ordinaries Index is up 5.00 points or 0.06 percent to 8,481.30. Australian stocks ended slightly higher on Wednesday.
Among major miners, Rio Tinto is edging down 0.3 percent, Fortescue Metals is declining almost 4 percent and BHP Group is losing almost 1 percent, while Mineral Resources is gaining more than 1 percent.
Oil stocks are mixed. Woodside Energy is edging down 0.5 percent, while Origin Energy is gaining almost 1 percent. Beach energy and Santos are flat.
In the tech space, Afterpay owner Block is losing more than 1 percent and WiseTech Global is declining almost 4 percent, while Xero and Zip are slipping almost 1 percent each. Appen is gaining almost 1 percent.
Among the big four banks, Commonwealth Bank and ANZ Banking are edging up 0.4 percent each, while Westpac and National Australia Bank are edging down 0.1 to 0.3 percent each.
Among gold miners, Evolution Mining, Gold Road Resources and Northern Star Resources are losing almost 2 percent each, while Resolute Mining is down 1.5 percent. Newmont is tumbling more than 8 percent.
In economic news, the manufacturing sector in Australia continued to contract in October, and at a slightly faster pace, the latest survey from Judo Bank revealed on Thursday with a manufacturing PMI score of 46.6. That's down from 46.7 in September, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the services PMI rose to 50.6 in October from 50.5 in September.
In the currency market, the Aussie dollar is trading at $0.664 on Thursday.
On Wall Street, stocks came under pressure early in the session on Wednesday and saw further downside over the course of the trading day. The major averages all moved notably lower, with the Dow and the SP 500 extending their losing streaks to three days.
The major averages climbed off their worst levels late in the session but remained firmly negative. The Dow slumped 409.94 points or 1.0 percent to 42,514.95, the Nasdaq tumbled 296.47 points or 1.6 percent to 18,276.65 and the SP 500 slid 53.78 points or 0.9 percent to 5,797.42.
The major European markets also ended the day lower. While the German DAX Index dipped by 0.2 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index fell by 0.5 percent and 0.6 percent, respectively.
Crude oil prices fell on Wednesday, weighed down by data showing a larger than expected increase in U.S. crude oil inventories last week, while a stronger dollar also weighed. West Texas Intermediate crude oil futures for December fell $0.97 or 1.35 percent at $70.77 a barrel.
DAX Gains On Economic Optimism
(RTTNews) - German stocks traded higher on Thursday after a business survey showed German business activity contracted less steeply than the previous month in October.
The HCOB Preliminary German Composite Output Index came in at 48.4 in October versus 47.5 in September.
The benchmark DAX was up 155 points, or 0.8 percent, at 19,532 after ending 0.2 percent lower the previous day.
In corporate news, Nivea maker Beiersdorf jumped 4.2 percent after reporting an increase in group sales for the first nine months of 2024.
Engine manufacturer MTU Aero Engines rose 1.3 percent after third-quarter earnings came in above expectations.
Symrise fell 2.6 percent after the fragrance, flavor and nutrition group posted Q3 sales in the reporting currency slightly below estimates.
Indonesia Bourse May Extend Wednesday's Losses
(RTTNews) - The Indonesia stock market on Wednesday ended the eight-day winning streak in which it had surged more than 300 points or 4.1 percent. The Jakarta Composite Index now rests just beneath the 7,790-point plateau and the losses may accelerate on Thursday.
The global forecast for the Asian markets is negative amid rising treasury yields and pessimism over the outlook for interest rates. The European and U.S. markets were down and the Asian bourses figure to follow that lead.
The JCI finished slightly lower on Wednesday following losses from the cement and resource stocks, while the financials were mixed and the energy producers were up.
For the day, the index eased 1.42 points or 0.1 percent to finish at 7,787.56.
Among the actives, Bank CIMB Niaga fell 0.26 percent, while Bank Danamon Indonesia climbed 1.15 percent, Bank Negara Indonesia collected 0.44 percent, Bank Central Asia improved 1.43 percent, Bank Rakyat Indonesia dropped 0.82 percent, Bank Maybank Indonesia slumped 0.86 percent, Indosat Ooredoo Hutchison rallied 2.07 percent, Indocement shed 0.32 percent, Semen Indonesia sank 0.70 percent, Indofood Sukses Makmur advanced 1.01 percent, United Tractors eased 0.18 percent, Astra International added 0.47 percent, Energi Mega Persada skyrocketed 18.75 percent, Astra Agro Lestari skidded 1.09 percent, Aneka Tambang retreated 1.20 percent, Jasa Marga dipped 0.21 percent, Vale Indonesia declined 1.41 percent, Timah plunged 3.60 percent, Bumi Resources surged 4.26 percent and Bank Mandiri was unchanged.
The lead from Wall Street is weak as the major averages opened lower on Wednesday and remained in the red throughout the trading day, albeit bouncing off session lows.
The Dow plunged 409.94 points or 0.96 percent to finish at 42,514.95, while the NASDAQ plummeted 296.47 points or 1.60 percent to close at 18,276.47 and the SP 500 dropped 53.78 points or 0.92 percent to end at 5,797.42.
The weakness on Wall Street came amid a continued increase by treasury yields, which have moved sharply higher over the past few sessions.
The yield on the benchmark ten-year note has risen to its highest level in almost three months amid worries the Federal Reserve will lower interest rates slower than previously anticipated.
While the Fed is still widely expected to lower interest rates by a quarter-point next month, there is increasing skepticism about another rate cut in December.
Oil prices fell on Wednesday, weighed down by data showing a larger than expected increase in U.S. crude oil inventories last week, while a stronger dollar also weighed. West Texas Intermediate crude oil futures for December fell $0.97 or 1.35 percent at $70.77 a barrel.
Major European Markets Close Slightly Higher
(RTTNews) - The major European markets closed slightly higher on Thursday with investors reacting positively to some quarterly earnings updates from a few major European and U.S. companies, and dovish comments from Bank of England Governor Andrew Bailey.
Data showing weak private sector activity in the Eurozone and the U.K. weighed a bit and limited markets' upside. Eurozone private sector activity shrank moderately in October on continuing contraction in manufacturing, flash survey data from SP Global showed.
The BoE Governor said that U.K. inflation is fading more rapidly than central bankers expected, boosting bets on another rate cut on Nov. 7.
"Disinflation is happening I think faster than we expected it to, but we have still genuine question marks about whether there have been some structural changes in the economy," he was quoted as saying at an event organized by the Institute of International Finance in Washington DC.
Separately, Reuters reported citing sources that ECB policymakers are debating whether rates have to go below neutral to stimulate the economy.
The pan European Stoxx 600 edged up 0.03%. The U.K.'s FTSE 100 and France's CAC 40 crept up 0.13% and 0.08%, respectively. Germany's DAX climbed 0.34%, while Switzerland's SMI closed higher by 0.21%.
Among other markets in Europe, Iceland, Netherlands, Norway and Turkiye closed higher.
Austria, Belgium, Denmark, Finland, Greece, Poland, Portugal, Russia, Spain and Sweden ended weak, while Ireland settled flat.
In the UK market, Barclays rallied about 4.2% after third-quarter profit beat expectations. Barclays reported a net profit of £1.6 billion for the third quarter, surpassing the £1.17 billion forecast and up 23% year-on-year. Its revenue of £6.5 billion also exceeded expectations,
Anglo American Plc shares gained nearly 3% after the company raised platinum and nickel production guidance.
Unilever closed up 3% as it reported slightly better-than-expected underlying quarterly sales.
London Stock Exchange Group, Standard Chartered, Natwest Group, ICG, Entain, RightMove, Scottish Mortgage, Melrose Industries, WPP, Auto Trader Group, BT Group and Fresnillo gained 1 to 3%.
Schrodders, SSE and Endeavour Mining lost 2.1 to 2.7%. United Utilities, Severn Trent, Reckitt Benckiser, BM European Value Retail, Croda International, IHG, BAE Systems, Bunzl, Berkeley Group Holdings, Persimmon, Hikma Pharmaceuticals, Rolls-Royce Holdings, Next and AstraZeneca Pharma closed down 1 to 2%.
In the German market, Puma, Porsche, Rheinmetall, Volkswagen, Siemens Energy and Deutsche Post gained 2 to 3.4%. Beiersdorf gained about 3% after reporting an increase in group sales for the first nine months of 2024.
Vonovia, Mercedes-Benz, MTU Aero Engines, Deutsche Telekom, Deutsche Boerse, Fresenius Medical Care, BMW, Daimler Truck Holding, Continental, Fresenius and Infineon gained 1 to 2%.
Symrise ended down 3%, after the fragrance, flavor and nutrition group posted Q3 sales in the reporting currency slightly below estimates.
Deutsche Bank closed lower by 2.4%. Merck and Sartorius also declined sharply.
In the French market, Renault rallied nearly 5% as the carmaker reported an unexpected rise in quarterly revenues. Danone gained about 2.75% after Q3 organic revenue growth exceeded market expectations.
LVMH gained about 2.5%. Hermes International moved higher after it reported an 11.3% rise in third-quarter sales. Kering gained in strength after reporting higher third-quarter sales.
Stellantis, Orange, Publicis Groupe, Thales and Bouygues also closed notably higher.
Edenred plunged more than 14%. Michelin lost about 8% after cutting its annual sales volume forecast.
Dassault Systemes, Carrefour and Veolia closed lower by 1.7 to 2.4%. Sanofi ended down by about 1%.
On the economic front, Eurozone private sector activity shrank moderately in October on continuing contraction in manufacturing, flash survey data from SP Global showed. The HCOB flash composite output index rose slightly to 49.7 in October from 49.6 a month ago. The reading was seen at 49.8. Business activity in the currency bloc dropped marginally for the second straight month.
The UK private sector activity expanded at the weakest pace in almost a year in October due to weak demand conditions amid heightened economic uncertainty. The flash composite output index dropped to 51.7 in October from 52.6 in September. Nonetheless, a reading above 50.0 suggests expansion in the private sector. The score was expected to remain stable at 52.6.
France's manufacturing confidence weakened sharply in October, survey data from the statistical office INSEE showed. The business climate index fell to 92 in October from 99 in September. The score deviated sharply from its long-term average of 100. Moreover, excluding the COVID-19 pandemic period, this was the biggest monthly fall since November 2008.
France's private sector shrank again in October as both manufacturers and service providers reported lower output, survey data from SP Global showed on Thursday. The flash composite output index unexpectedly fell to a nine-month low of 47.3 in October from 48.6 in the previous month. This was the lowest score since the start of this year. The expected level was 49.0.
Germany's private sector downturn slowed marginally in October as output dropped at a slightly slower pace and business expectations picked up, the latest HCOB Purchasing Managers' survey compiled by SP Global showed Thursday. The flash composite output index rose to 48.4 in October from September's seven-month low of 47.5. The score was also above forecast of 47.6.
European Shares Rise On Earnings Boost, Rate Cut Hopes
(RTTNews) - European stocks climbed on Thursday as strong earnings from a slew of companies and dovish comments from Bank of England (BoE) Governor Andrew Bailey offset disappointing business activity readings from the region.
The BoE Governor said that U.K. inflation is fading more rapidly than central bankers expected, boosting bets on another rate cut on Nov. 7.
"Disinflation is happening I think faster than we expected it to, but we have still genuine question marks about whether there have been some structural changes in the economy," he was quoted as saying at an event organized by the Institute of International Finance in Washington DC.
Separately, Reuters reported citing sources that ECB policymakers are debating whether rates have to go below neutral to stimulate the economy.
In economic releases, Eurozone private sector activity shrank moderately in October on continuing contraction in manufacturing, flash survey data from SP Global showed.
The HCOB flash composite output index rose slightly to 49.7 in October from 49.6 a month ago.
Elsewhere, the U.K. private sector activity expanded at the weakest pace in almost a year in October due to weak demand conditions amid heightened economic uncertainty, flash survey results published by SP Global revealed.
The flash composite output index dropped to 51.7 in October from 52.6 in September.
The pan-European STOXX 600 rose 0.6 percent to 521.86 after falling 0.3 percent on Wednesday. The German DAX jumped 0.7 percent, France's CAC 40 added 0.7 percent and the U.K.'s FTSE 100 surged 0.8 percent.
In corporate news, Indivior jumped 9 percent after the British addiction treatment specialist reported a strong third-quarter performance.
Fund manager Abrdn plunged 8 percent as it reported deeper than expected outflows of client funds in the third quarter.
Essentra gained about 1 percent. The essential components manufacturer said that FY24 adjusted operating profits would be in line with market expectations.
GSK was also up 1 percent after announcing new positive data for RSV vaccine, Arexvy in younger adults.
Distribution and outsourcing firm Bunzl fell 2.4 percent despite reiterating its full-year guidance.
Lender Barclays soared nearly 4 percent after third-quarter profit beat expectations.
Global miner Anglo American surged 4.1 percent after raising platinum and nickel production guidance.
Consumer goods giant Unilever gained 3.9 percent as it reported slightly better-than-expected underlying quarterly sales.
Birkin bag maker Hermes International rallied 1.8 percent in Paris after it reported an 11.3 percent rise in third-quarter sales.
Peer Kering climbed 1.1 percent after reporting higher third-quarter sales.
Orange added 1.7 percent. The telecommunications and digital service provider reported revenue of 9.995 billion euros for the third quarter, up 1.6 percent from the corresponding period a year ago, mainly helped by growth retail services.
Renault soared 6.5 percent as the carmaker reported an unexpected rise in quarterly revenues.
Caterer Sodexo advanced 5.2 percent after reporting higher than expected sales growth for the year through Aug. 3.
Consumer goods group Danone added 2.3 percent after Q3 organic revenue growth exceeded market expectations.
Tyre maker Michelin plunged 7 percent after cutting its annual sales volume forecast.
Nivea maker Beiersdorf jumped 3.4 percent after reporting an increase in group sales for the first nine months of 2024.
Symrise fell 2.2 percent after the fragrance, flavor and nutrition group posted Q3 sales in the reporting currency slightly below estimates.
FTSE 100 Rallies On Rate Cut Hopes
(RTTNews) - U.K. stocks rose notably on Thursday after Bank of England (BoE) Governor Andrew Bailey said that U.K. inflation is fading more rapidly than central bankers expected, boosting bets on another rate cut on Nov. 7.
"Disinflation is happening I think faster than we expected it to, but we have still genuine question marks about whether there have been some structural changes in the economy," he was quoted as saying at an event organized by the Institute of International Finance in Washington DC.
Meanwhile, investors shrugged of the results of a survey that showed U.K. business growth hit a 11-month low in October.
The benchmark FTSE 100 was up 63 points, or 0.8 percent, at 8,321 after falling 0.6 percent the previous day.
Indivior jumped 9 percent after the addiction treatment specialist reported a strong third-quarter performance.
Fund manager Abrdn plunged 8 percent as it reported deeper than expected outflows of client funds in the third quarter.
Essentra gained about 1 percent. The essential components manufacturer said that FY24 adjusted operating profits would be in line with market expectations.
GSK was also up 1 percent after announcing new positive data for RSV vaccine, Arexvy in younger adults.
Distribution and outsourcing firm Bunzl fell 2.4 percent despite reiterating its full-year guidance.
Lender Barclays soared nearly 4 percent after third-quarter profit beat expectations.
Global miner Anglo American surged 4.1 percent after raising platinum and nickel production guidance.
Consumer goods giant Unilever gained 3.9 percent as it reported slightly better-than-expected underlying quarterly sales.
Eurozone Private Sector Activity Shrinks
(RTTNews) - Eurozone private sector activity shrank moderately in October on continuing contraction in manufacturing, flash survey data from SP Global showed on Thursday.
The HCOB flash composite output index rose slightly to 49.7 in October from 49.6 a month ago. The reading was seen at 49.8.
Business activity in the currency bloc dropped marginally for the second straight month.
The marginal reduction in overall business activity masked a continued divergence between the manufacturing and services sectors.
The flash services Purchasing Managers' Index unexpectedly fell to 51.2 from 51.4 a month ago. The score was seen at 51.5.
The manufacturing PMI improved to a five-month high of 45.9 from 45.0 in the prior month. The score was seen at 45.1.
Output was scaled back in response to a weakening demand environment, with new orders down for the fifth straight month.
Companies responded to lower workloads by lowering employment to the largest degree in almost four years, while business confidence dropped to an 11- month low.
On the price front, input costs increased at the slowest pace since November 2020 and output charge inflation similarly eased to a 44-month low.
"The eurozone is stuck in a bit of a rut, with the economy contracting marginally for the second month running," said Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said.
The European Central Bank is likely to cut key interest rates by just 25 basis points in December, rather than the 50 basis points some have been talking about, the economist added.
At country level, the deterioration of the situation in France was met by a slight moderation in the decline in Germany. The rest of the eurozone actually saw output increase at the fastest pace in four months.
France's private sector continued to shrink in October as both manufacturers and service providers reported lower output.
The flash composite output index unexpectedly fell to a nine-month low of 47.3 from 48.6 in the previous month. This was the lowest score since the start of this year. The expected level was 49.0.
The manufacturing PMI posted 44.5 compared to 44.6 in the previous month. The score was seen at 44.9.
The flash services PMI hit a seven-month low of 48.3, down from 49.6 in the prior month and also remained below economists' forecast of 49.8.
Germany's private sector downturn slowed marginally in October as output dropped at a slightly slower pace and business expectations picked up. The flash composite output index rose to 48.4 in October from September's seven-month low of 47.5. The score was also above forecast of 47.6.
The services PMI hit a three-month high of 51.4, while the score was seen at 50.6, unchanged from September.
The manufacturing PMI climbed to a three-month high of 42.6 from 40.6 in the previous month. Economists had forecast the index to rise marginally to 40.7.
Dollar Loses Ground Against Major Counterparts
(RTTNews) - The U.S. dollar shed some ground on Thursday although the downside was limited thanks to stronger than expected weekly jobless claims data, new home sales data and manufacturing activity report.
In U.S. economic news, data from the Labor Department showed initial jobless claims saw further downside in the week ended October 19th, dropping to 227,000 in the week, a decrease of 15,000 from the previous week's revised level of 242,000.
Economists had expected jobless claims to inch up to 242,000 from the 241,000 originally reported for the previous week.
According to a report released by the Commerce Department, new home sales surged by 4.1% to an annual rate of 738,000 in September after tumbling by 2.3% to a revised rate of 709,000 in August.
The dollar index dropped to 104.01, losing about 0.4%.
Against the Euro, the dollar weakened to 1.0828 from 1.0783, and against Pound Sterling, it shed more than 0.4% at 1.2973.
The dollar slipped against the Japanese currency to 151.83 yen a unit, from 152.76 yen on Wednesday. Against the Aussie, the dollar declined marginally to 0.6640.
The Swiss franc gained slightly against the dollar, trading at CHF 0.8659. The Loonie eased to 1.3857 a unit of the U.S. currency, from 1.3838.
Tesla Stock Climbs On Upbeat Earnings, FY24 Volume Growth View
(RTTNews) - Shares of Tesla Inc. climbed more than 12 percent in the after-hours on Wednesday and are currently up around 11 percent in the pre-market activity on the Nasdaq after the luxury electric vehicle maker reported higher profit in its third quarter, above market estimates, benefited by volume growth. Looking ahead to fiscal 2024, the company projects slight growth in vehicle deliveries, despite ongoing macroeconomic conditions. Energy storage deployments are expected to be more than double year-over-year in 2024.
During its earnings call, Tesla CEO Elon Musk said the firm achieved record deliveries in the quarter at a time when the industry was seeing year-over-year declines in order volumes.
Meanwhile, Tesla warned that sustaining positive margins in the fourth quarter will be challenging, given the current economic environment.
Musk also said the company is still on track to deliver affordable models starting in the first half of 2025.
Regarding Cybercab robotaxi, the CEO said the firm expects reaching volume production in fiscal 2026, aiming for at least 2 million units a year, maybe 4 million ultimately.
Musk added that Tesla expects to achieve full autonomy next year with the existing vehicle line, and that it would roll out ride-hailing in California and Texas next year to the public, and maybe some other states as well.
Tesla's third-quarter vehicle safety report shows one crash for every 7 million miles of autopilot, compared to the U.S. average of one crash roughly every 700,000 miles.
In its third quarter, Tesla delivered strong results with growth in vehicle deliveries both sequentially and year-on-year, resulting in record volumes.
Total production in the quarter grew 9 percent to 469,796 units from last year's 430,488 units. Total deliveries went up 6 percent from last year to 462,890 units.
According to the firm, increase in overall production and delivery volume, benefit from the marketing pricing and more localized deliveries in region resulted in lower freight and duties.
Meanwhile, the company experienced a reduction in average selling prices or ASPs primarily due to the impact of financing incentives.
Further, its cost of goods sold or COGS per vehicle came down to its lowest level ever at around $35,100.
In its third quarter, Tesla's earnings came in at $2.17 billion or $0.62 per share, 17 percent higher than prior year's $1.85 billion or $0.53 per share.
Adjusted earnings were $2.51 billion or $0.72 per share for the period, compared to $2.32 billion or $0.66 per share a year ago.
Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Income from operations climbed 54 percent from last year to $2.72 billion, reflecting a 6 percent drop in operating expenses to $2.28 billion. Operating margin was 10.8 percent, an improvement of 323 basis points.
The company's revenue for the quarter rose 7.8 percent to $25.182 billion from $23.350 billion last year, driven by growth in vehicle deliveries, and in Energy Generation and Storage and Services, among others.
Total automotive revenues grew 2 percent from last year to $20.02 billion, and the growth was 52 percent in Energy generation and storage revenue and 29 percent in Services and other revenue.
On Nasdaq, Tesla shares closed Wednesday's trading at $213.65, down 2 percent. Following the earnings report, the shares gained 12.10 percent in the extended trading to $239.50.
In pre-market activity, the shares are currently trading at $237.49, up 11.16 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
NZ Dollar Slides Against Most Majors
(RTTNews) - The New Zealand dollar weakened against its most major counterparts in the New York session on Thursday.
The kiwi fell to a 2-day low of 91.04 against the yen and an 8-day low of 1.8002 against the euro, off its early highs of 91.82 and 1.7880, respectively.
The kiwi edged down to 0.5998 against the greenback.
If the kiwi extends its downtrend, it is likely to find support around 87.00 against the yen, 1.82 against the euro and 0.57 against the greenback.
Bay Street Likely To Open On Positive Note
(RTTNews) - Higher crude oil and bullion prices point to a positive start for the Canadian market on Thursday. Investors are likely to track quarterly earnings updates from Canadian and U.S. companies.
Rogers Communications Inc. (RCI.A.TO) reported adjusted net income of $762 million for the quarter ended September 30, 2024, compared with $679 million in the year-ago quarter.
FirstService Corporation (FSV.TO) reported operating earnings of $125.9 million for the third-quarter of this financial year, up from $73.6 million in the year-ago quarter.
Mullen Group (MTL.TO) reported a net income of $38.3 million for the quarter ended September 30, 2024, compared with $39.1 million a year ago.
Celestica Inc (CLS.TO) reported revenue of $2.50 billion for the third quarter of 2024, up 22% from $2.04 billion in the corresponding quarter of the previous year.
The Canadian market ended weak on Wednesday, hurt by losses in technology, energy and materials stocks. Despite the Bank of Canada's decision to cut interest rates by 50 basis points, the mood in the market remained bearish amid concerns about the outlook for economic growth and due to persisting Middle East tensions.
The benchmark SP/TSX Composite Index ended down 143.08 points or 0.58% at 24,573.62, about 20 points off the day's low of 24,453.40. The index remained in negative territory right through the day's session.
The Canadian central bank cut rates by a half point today, as widely expected, reducing its target for the overnight rate by 50 basis points to 3.75%, with the Bank Rate at 4% and the deposit rate at 3.75%.
Asian stocks ended mostly lower on Thursday as rising yields on uncertainty over the U.S. election outcome weighed on the tech sector. Tesla's forecast-beating earnings provided some comfort for investors, helping limit regional losses.
European stocks are up in positive territory, reacting to strong earnings from a slew of companies, and dovish comments from Bank of England Governor Andrew Bailey.
In commodities, West Texas Intermediate crude oil futures are up $0.50 or 0.7% at $71.27 a barrel.
Gold futures are gaining $20.50 or 0.75% at $2,749.90 an ounce, while Silver futures are up $0.421 or 1.25% at $34.260 an ounce.
Swiss Market Closes Modestly Higher
(RTTNews) - The Switzerland market closed modestly higher on Thursday, staying positive right through the day's session, amid hopes global central banks will reduce interest rates further to boost growth.
The benchmark SMI, which moved in a tight range between 12,169.08 and 12,224.63, ended with a gain of 25.94 points or 0.21% at 12,173.04.
Swatch Group and Lonza Group climbed 2.85% and 2.78%, respectively. Richemont, Straumann Holding and Kuehne + Nagel gained 1.75 to 1.9%.
Swiss Life Holding, SGS, Adecco, VAT Group and Roche Holding advanced 0.9 to 1.3%. UBS Group climbed about 0.7%.
SIG Group, Sonova and Sandoz Group lost 1.37%, 1.17%, and 1.05%, respectively. Schindler Ps, Givaudan, Nestle, Logitech International, Julius Baer and Novartis also closed weak.
Sensex, Nifty End Marginally Lower On Earnings Disappointment
(RTTNews) - Indian shares fluctuated in a narrow range on Thursday before finishing marginally lower for the day, following disappointing earnings from the likes of Hindustan Unilever and SBI Life Insurance.
Also, a cautious undertone prevailed due to investor anxiety over the impending U.S. election and heightened tensions in the Middle East.
A new national poll has indicated that former President Donald Trump was gaining an edge over Vice President Kamala Harris in the race to succeed President Biden in the White House. However, markets still expect a hotly contested race.
Oil prices were up nearly 2 percent in European trade after Israel reportedly launched strikes on the Syrian capital Damascus and a military site near the western city of Homs early Thursday, causing casualties.
Elsewhere, North Korea has allegedly sent troops to support Russia's war on Ukraine, marking a significant escalation in Russia's war against its neighbor.
The benchmark SP/BSE Sensex ended the session down 16.82 points, or 0.02 percent, at 80,065.16 while the broader NSE Nifty index closed at 24,399.40, down 36.10 points, or 0.15 percent, from its previous close.
Bajaj Auto, Nestle India, Hindalco, SBI Life and Hindustan Unilever plunged 3-6 percent in the Nifty pack while UltraTech Cement rallied 2.7 percent on strong outlook.
Grasim, Titan Company, Mahindra Mahindra and Shriram Finance rose 1-2 percent.
Singapore Shares May Tick Higher Again On Friday
(RTTNews) - The Singapore stock market has moved higher in two straight sessions, gathering almost 20 points or 0.6 percent along the way. The Straits Times Index now sits just above the 3,600-point plateau and it may add to its winnings on Friday.
The global forecast for the Asian markets is mixed to higher, likely driven by the latest earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The STI finished slightly higher on Thursday following gains from the financial shares, weakness from the properties and a mixed performance from the industrials.
For the day, the index rose 4.17 points or 0.12 percent to finish at 3,604.95 after trading between 3,604.11 and 3,628.05.
Among the actives, CapitaLand Integrated Commercial Trust slid 0.49 percent, while CapitaLand Investment tumbled 1.02 percent, City Developments retreated 0.92 percent, Comfort DelGro shed 0.68 percent, DBS Group and Wilmar International both added 0.31 percent, DFI Retail surged 2.61 percent, Genting Singapore lost 0.60 percent, Hongkong Land plunged 1.99 percent, Keppel Ltd rallied 1.41 percent, Mapletree Pan Asia Commercial Trust dropped 0.70 percent, Mapletree Industrial Trust slumped 0.82 percent, Mapletree Logistics Trust tanked 1.43 percent, Oversea-Chinese Banking Corporation collected 0.20 percent, Seatrium Limited advanced 0.51 percent, SembCorp Industries fell 0.56 percent, Singapore Technologies Engineering eased 0.21 percent, SingTel climbed 0.63 percent, Thai Beverage declined 0.93 percent, Yangzijiang Financial plummeted 2.41 percent, Yangzijiang Shipbuilding sank 0.78 percent and Emperador, Keppel DC REIT and SATS were unchanged.
The lead from Wall Street is murky as the major averages opened mixed on Thursday and finished the same way.
The Dow dropped 140.59 points or 0.33 percent to finish at 42,374.36, while the NASDAQ climbed 138.83 points or 0.76 percent to close at 18,415.49 and the SP 500 rose 12.44 points or 0.21 percent to end at 5,809.86.
The strength on the tech-heavy NASDAQ was spurred by strong quarterly earnings from the likes of Tesla (TSLA) and UPS (UPS).
On the other hand, the Dow was weighed by weak quarterly earnings news from IBM (IBM), Honeywell (HON) and Boeing (BA).
Oil prices fell on Thursday, extending losses from the previous session as concerns about excess supply and weak crude consumption in China weighed. West Texas Intermediate Crude oil futures for December ended down $0.58 or 0.8 percent at $70.19 a barrel.
Closer to home, Singapore will provide Q3 numbers for unemployment and September data for industrial production later today. In Q2, the jobless rate was 2.0 percent; in August, industrial production was up 6.7 percent on month and 21.0 percent on year.
Tokyo Inflation Falls Below 2%
(RTTNews) - Inflation in Japan's capital Tokyo fell below 2 percent for the first time since May, data from the Ministry of Internal Affairs and Communications showed Friday.
Excluding fresh food, consumer price inflation weakened to 1.8 percent in October from 2.0 percent in September. Inflation was seen at 1.7 percent. The rate fell below 2.0 percent for the first time in five months.
Likewise, overall consumer price inflation slowed to 1.8 percent from 2.1 percent a month ago.
Further, inflation excluding fresh food and energy also stood at 1.8 percent, up from 1.6 percent a month ago.
The Bank of Japan is set to announce its monetary policy decision on October 31. The bank had signaled that a hike is unlikely this month. The bank was widely criticized for poor communication when it lifted the rate in July.
The timing of the next rate hike is highly uncertain for now, but the BoJ is expected to raise its policy rate to 1.0 percent by the end of next year, ING economist Min Joo Kang said.
Elsewhere, data from the Bank of Japan showed that corporate services producer prices index advanced 2.6 percent on a yearly basis in September after an increase of 2.8 percent in August.
On a monthly basis, the services PPI edged down 0.1 percent after staying flat in August.
Tech Shares May Boost South Korea Stock Market
(RTTNews) - The South Korea stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day slide in which it had slumped almost 40 points or 1.6 percent. The KOSPI now sits just above the 2,580-point plateau and it's likely to tick higher again on Friday.
The global forecast for the Asian markets is mixed to higher, likely driven by the latest earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The KOSPI finished modestly lower on Thursday following losses from the financial shares, technology stocks and industrial issues.
For the day, the index lost 18.59 points or 0.72 percent to finish at 2,581.03 after trading between 2,578.80 and 2,600.26. Volume was 336.43 million shares worth 9.47 trillion won. There were 613 decliners and 256 gainers.
Among the actives, Shinhan Financial fell 0.36 percent, while KB Financial skidded 1.17 percent, Hana Financial sank 0.78 percent, Samsung Electronics plunged 4.23 percent, Samsung SDI slumped 1.06 percent, LG Electronics tanked 2.31 percent, SK Hynix climbed 1.12 percent, Naver dipped 0.23 percent, LG Chem advanced 1.08 percent, Lotte Chemical tumbled 1.83 percent, SK Innovation shed 0.77 percent, POSCO lost 0.73 percent, SK Telecom improved 1.06 percent, KEPCO surged 5.01 percent, Hyundai Mobis jumped 1.42 percent, Hyundai Motor plummeted 5.19 percent and Kia Motors surrendered 2.26 percent.
The lead from Wall Street is murky as the major averages opened mixed on Thursday and finished the same way.
The Dow dropped 140.59 points or 0.33 percent to finish at 42,374.36, while the NASDAQ climbed 138.83 points or 0.76 percent to close at 18,415.49 and the SP 500 rose 12.44 points or 0.21 percent to end at 5,809.86.
The strength on the tech-heavy NASDAQ was spurred by strong quarterly earnings from the likes of Tesla (TSLA) and UPS (UPS).
On the other hand, the Dow was weighed by weak quarterly earnings news from IBM (IBM), Honeywell (HON) and Boeing (BA).
Oil prices fell on Thursday, extending losses from the previous session as concerns about excess supply and weak crude consumption in China weighed. West Texas Intermediate Crude oil futures for December ended down $0.58 or 0.8 percent at $70.19 a barrel.
Rebound Anticipated For China Stock Market
(RTTNews) - The China stock market on Thursday snapped the four-day winning streak in which it had rallied more than 135 points or 4 percent. The Shanghai Composite now sits just above the 3,280-point plateau although it's likely to bounce higher again on Friday.
The global forecast for the Asian markets is mixed to higher, likely driven by the latest earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The SCI finished modestly lower on Thursday following losses from the property stocks and resource companies, while the finances and energy shares were mixed.
For the day, the index shed 22.54 points or 0.68 percent to finish at 3,280.26 after trading between 3,266.88 and 3,292.94. The Shenzhen Composite Index sank 17,75 points or 0.91 percent to end at 1,938.81.
Among the actives, Industrial and Commercial Bank of China improved 0.33 percent, while Bank of China dipped 0.20 percent, China Construction Bank rose 0.25 percent, China Merchants Bank dropped 0.88 percent, Agricultural Bank of China collected 0.41 percent, China Life Insurance tumbled 1.56 percent, Jiangxi Copper shed 0.61 percent, Aluminum Corp of China (Chalco) climbed 1.15 percent, Yankuang Energy declined 1.30 percent, PetroChina fell 0.35 percent, China Petroleum and Chemical (Sinopec) retreated 1.52 percent, Huaneng Power gained 0.68 percent, China Shenhua Energy added 0.58 percent, Gemdale plunged 3.52 percent, Poly Developments stumbled 2.01 percent and China Vanke tanked 2.25 percent.
The lead from Wall Street is murky as the major averages opened mixed on Thursday and finished the same way.
The Dow dropped 140.59 points or 0.33 percent to finish at 42,374.36, while the NASDAQ climbed 138.83 points or 0.76 percent to close at 18,415.49 and the SP 500 rose 12.44 points or 0.21 percent to end at 5,809.86.
The strength on the tech-heavy NASDAQ was spurred by strong quarterly earnings from the likes of Tesla (TSLA) and UPS (UPS).
On the other hand, the Dow was weighed by weak quarterly earnings news from IBM (IBM), Honeywell (HON) and Boeing (BA).
Oil prices fell on Thursday, extending losses from the previous session as concerns about excess supply and weak crude consumption in China weighed. West Texas Intermediate Crude oil futures for December ended down $0.58 or 0.8 percent at $70.19 a barrel.
Taiwan Stock Market Due For Support On Friday
(RTTNews) - The Taiwan stock market has moved lower in three straight sessions, shedding almost 350 points or 1.5 percent along the way. The Taiwan Stock Exchange now rests just beneath the 23,200-point plateau although it may stop the bleeding on Friday.
The global forecast for the Asian markets is mixed to higher, likely driven by the latest earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The TSE finished modestly lower again on Thursday as losses from the financial shares and technology stocks were offset by support from the plastic and cement sectors.
For the day, the index lost 142.24 points or 0.61 percent to finish at 23,192.52 after trading between 23,150.77 and 23,446.64.
Among the actives, Cathay Financial retreated 1.45 percent, while Mega Financial eased 0.13 percent, CTBC Financial shed 0.69 percent, First Financial collected 0.37 percent, Fubon Financial dropped 0.87 percent, E Sun Financial dipped 0.18 percent, United Microelectronics Corporation lost 0.60 percent, Hon Hai Precision stumbled 2.08 percent, Largan Precision declined 1.46 percent, Catcher Technology climbed 1.07 percent, MediaTek surrendered 2.31 percent, Delta Electronics slumped 1.25 percent, Novatek Microelectronics fell 0.19 percent, Nan Ya Plastics rallied 1.10 percent, Asia Cement gained 1.19 percent and Taiwan Semiconductor Manufacturing Company and Formosa Plastics were unchanged.
The lead from Wall Street is murky as the major averages opened mixed on Thursday and finished the same way.
The Dow dropped 140.59 points or 0.33 percent to finish at 42,374.36, while the NASDAQ climbed 138.83 points or 0.76 percent to close at 18,415.49 and the SP 500 rose 12.44 points or 0.21 percent to end at 5,809.86.
The strength on the tech-heavy NASDAQ was spurred by strong quarterly earnings from the likes of Tesla (TSLA) and UPS (UPS).
On the other hand, the Dow was weighed by weak quarterly earnings news from IBM (IBM), Honeywell (HON) and Boeing (BA).
Oil prices fell on Thursday, extending losses from the previous session as concerns about excess supply and weak crude consumption in China weighed. West Texas Intermediate Crude oil futures for December ended down $0.58 or 0.8 percent at $70.19 a barrel.
TSX Ends Marginally Down
(RTTNews) - The Canadian market ended marginally down on Thursday with investors digesting a slew of earnings updates and largely looking to trim down commitments amid uncertainty about the outcome of U.S. presidential election, and persisting worries about Middle East tensions.
The benchmark SP/TSX Composite Index, which edged up slightly at the start to 24,590.52, fell to 24,372.34 around noon, but recovered gradually to settle at 24,551.55, with a loss of 22.07 points or 0.09%.
Technology, real estate and energy stocks were the notable gainers. Communications and consumer staples stocks were among the notable losers.
Newmont Corporation (NGT.TO) plummeted 14.7%. Teck Resources (TECK.B.TO) dropped about 5.5%. Boyd Group Services (BYD.TO), ATS Corporation (ATS.TO), Alimentation Couche-Tard (ATD.TO), Restaurant Brands International (QSR.TO), Metro Inc (MRU.TO), Toromont Industries (TIH.TO), Royal Bank of Canada (RY.TO) and RB Global Inc (RBA.TO) lost 1 to 3.2%.
Celestica Inc (CLS.TO) soared 18.3%. Celestica reported revenue of $2.50 billion for the third quarter of 2024, up 22% from $2.04 billion in the corresponding quarter of the previous year.
Mullen Group (MTL.TO) climbed 9.3%. The company reported a net income of $38.3 million for the quarter ended September 30, 2024, compared with $39.1 million a year ago.
FirstService Corporation (FSV.TO) gained about 2.75%. The company reported operating earnings of $125.9 million for the third-quarter of this financial year, up from $73.6 million in the year-ago quarter.
Colliers International (CIGI.TO) gained 4.8%. Brookfield Asset Management (BAM.TO), Docebo Inc (DCBO.TO), TFI International (TFII.TO), Gildan Activewear (GIL.TO) and Kinaxis Inc (KXS.TO) climbed 2 to 4%.
Rogers Communications (RCI.B.TO) ended down nearly 3%. The company reported adjusted net income of $762 million for the quarter ended September 30, 2024, compared with $679 million in the year-ago quarter.
Higher Open Called For Indonesia Stock Market
(RTTNews) - The Indonesia stock market has finished lower in back-to-back sessions, dropping almost 75 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,715-point plateau although it's tipped to open in the green on Friday.
The global forecast for the Asian markets is mixed to higher, likely driven by the latest earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The JCI finished modestly lower on Thursday following losses from the resource stocks and mixed performances from the financial and cement companies.
For the day, the index sank 71.02 points or 0.91 percent to finish at the daily low of 7,716.55 after peaking at 7,794.86.
Among the actives, Bank CIMB Niaga collected 0.52 percent, while Bank Mandiri retreated 1.41 percent, Bank Danamon Indonesia slumped 1.14 percent, Bank Negara Indonesia dropped 0.88 percent, Bank Central Asia added 0.47 percent, Bank Rakyat Indonesia sank 0.82 percent, Indosat Ooredoo Hutchison declined 1.21 percent, Indocement skidded 0.96 percent, Semen Indonesia rose 0.23 percent, Indofood Sukses Makmur gathered 0.33 percent, United Tractors shed 0.56 percent, Astra International lost 0.47 percent, Energi Mega Persada plunged 5.92 percent, Astra Agro Lestari climbed 1.10 percent, Aneka Tambang tumbled 1.82 percent, Jasa Marga slid 0.62 percent, Vale Indonesia surrendered 1.90 percent, Timah dipped 0.37 percent, Bumi Resources fell 0.68 percent and Bank Maybank Indonesia was unchanged.
The lead from Wall Street is murky as the major averages opened mixed on Thursday and finished the same way.
The Dow dropped 140.59 points or 0.33 percent to finish at 42,374.36, while the NASDAQ climbed 138.83 points or 0.76 percent to close at 18,415.49 and the SP 500 rose 12.44 points or 0.21 percent to end at 5,809.86.
The strength on the tech-heavy NASDAQ was spurred by strong quarterly earnings from the likes of Tesla (TSLA) and UPS (UPS).
On the other hand, the Dow was weighed by weak quarterly earnings news from IBM (IBM), Honeywell (HON) and Boeing (BA).
Oil prices fell on Thursday, extending losses from the previous session as concerns about excess supply and weak crude consumption in China weighed. West Texas Intermediate Crude oil futures for December ended down $0.58 or 0.8 percent at $70.19 a barrel.
Malaysia Bourse May Halt Losing Streak On Friday
(RTTNews) - The Malaysia stock market has moved lower in four straight sessions, slipping almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,630-point plateau although it's due for support on Friday.
The global forecast for the Asian markets is mixed to higher, likely driven by the latest earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.
The KLCI finished modestly lower on Thursday following losses from the financial shares, plantation stocks, industrials and telecoms.
For the day, the index fell 9.30 points or 0.57 percent to finish at the daily low of 1,632.23 after trading as high as 1,643.08.
Among the actives, Celcomdigi dipped 0.28 percent, while CIMB Group and Telekom Malaysia both shed 0.61 percent, Genting lost 0.50 percent, Genting Malaysia skidded 0.87 percent, IHH Healthcare rallied 2.77 percent, Kuala Lumpur Kepong and Maybank both slid 0.38 percent, Maxis added 0.53 percent, MISC retreated 1.43 percent, MRDIY advanced 0.90 percent, Nestle Malaysia tumbled 1.82 percent, Petronas Chemicals tanked 3.01 percent, PPB Group declined 1.39 percent, Press Metal perked 0.21 percent, Public Bank and Hong Leong Bank both dropped 0.66 percent, QL Resources, Tenaga Nasional and SD Guthrie all fell 0.42 percent, RHB Bank sank 0.62 percent, Sunway slumped 0.89 percent, YTL Corporation plunged 4.05 percent, YTL Power plummeted 6.40 percent and Axiata, Petronas Dagangan, IOI Corporation, Sime Darby and Petronas Gas were unchanged.
The lead from Wall Street is murky as the major averages opened mixed on Thursday and finished the same way.
The Dow dropped 140.59 points or 0.33 percent to finish at 42,374.36, while the NASDAQ climbed 138.83 points or 0.76 percent to close at 18,415.49 and the SP 500 rose 12.44 points or 0.21 percent to end at 5,809.86.
The strength on the tech-heavy NASDAQ was spurred by strong quarterly earnings from the likes of Tesla (TSLA) and UPS (UPS).
On the other hand, the Dow was weighed by weak quarterly earnings news from IBM (IBM), Honeywell (HON) and Boeing (BA).
Oil prices fell on Thursday, extending losses from the previous session as concerns about excess supply and weak crude consumption in China weighed. West Texas Intermediate Crude oil futures for December ended down $0.58 or 0.8 percent at $70.19 a barrel.
Tokyo Inflation Data Due On Friday
(RTTNews) - Japan will on Thursday release October figures for Tokyo-are inflation, highlighting a modest day for Asia-Pacific economic activity. In September, overall Tokyo inflation was up 2.2 percent on year, while core CPI rose an annual 2.0 percent.
Japan also will see September figures for corporate service prices and August results for its leading and coincident indexes. Service prices are seen steady at an annual 2.7 percent; in July, the leading index rose 0.2 percent on month and the coincident gained 3.1 percent on month.
Singapore will provide Q3 numbers for unemployment and September data for industrial production. In Q2, the jobless rate was 2.0 percent; in August, industrial production was up 6.7 percent on month and 21.0 percent on year.
