Stocks retained positive bias as investors reacted to latest earnings. Commodities traded higher after China reported faster-than-expected rebound in economic growth in the first quarter.
Leading banks reported strong results in the first quarter but JPMorgan and Citigroup lifted estimates of loan loss provisions. Stocks were on the defensive after the March report showed an unexpected decline in retail sales but benchmark indexes closed up for the week.
Stocks turned lower after nominal retail sales fell unexpectedly in March. Leading banks reported a rise in revenues powered by higher interest rates and sustained demand for loans from businesses and consumers and signaled a healthy banking system.
Tech stocks led the charge on Wall Street after two reports suggested waning inflation pressures. Airlines advanced on the expectations of rising demand for summer air travel and investors are awaiting earnings from leading banks on Friday.
Stocks traded higher on Wall Street after the second inflation report confirmed the cooling inflation trend. Despite the weakening price pressures, inflation is still too high and real interest rates are still negative.
Consumer price inflation cooled for the ninth month in a row after energy prices declined and used car prices eased from elevated levels. Stocks traded in a tight range as focus shifted to wholesale inflation data Thursday and bank earnings on Friday.
Stocks lacked directions ahead of the release of key inflation measures on Wednesday. Rising tensions in the Taiwan Straits raised fresh worries of supply chain disruptions. Apple accelerated its plans to diversify its manufacturing base away from China and increase its sales in India.
Earnings and economic slowdown jitters dominated stock trading on the first day of a new week. Crude oil edged lower but natural gas rebounded. The Japanese yen gained 1% on the rising expectations of the end of a decade long ultra loose monetary policy.
U.S. stocks traded lower and investors awaited the release of inflation data and bank earnings this week. Investors fear latest corporate earnings may fall short of lowered expectations on higher operating costs and slowing demand.
U.S. stock index futures and treasury yields advanced after March nonfarm payrolls report showed a cooling trend in hiring, confirming signals from other reports released earlier in the week.
Stocks struggled on Wall Street after two separate labor market reports showed weakening trends in tight labor market conditions. Investors looked ahead to the start of earnings season next week with banks and financial services taking the center stage.
European Markets advanced and extended weekly gains on the final trading day ahead of the long weekend. Strong German industrial output data provided another evidence of the economic resilience in the region despite elevated inflation.
After a year of multiple interest rate hikes, investors are now focusing on the rising risks of economic slowdown coupled with elevated inflation as the Federal Reserve struggles to steer the economy on a sustainable longer term growth path.
