23 Oct 2013
Poor corporate reports drag markets lower
FXstreet.com (Edinburgh) -Equities in the US markets are trading on the back footing on Wednesday, as disappointing corporate earnings reports are weighing on sentiment. The greenback, in terms of the US Dollar index, reverted initial gains and is now adding to yesterday’s losses below 79.20. As of writing the DowJones is losing 0.43%, followed by the S&P500, 0.51% and the Nasdaq, 0.67%.
Bourses across the pond closed in a ‘sea of red’ after poor earnings reports from European blue chips. Banks also collaborated with the downside after the ECB announced it would run stress tests for more than 100 European banks. The single currency alternates gains and losses at the top of the weekly range, gearing up for an imminent assault to the 1.3800 barrier.
In the commodities’ space, the barrel of WTI extends its decline to $97.25, losing 1.03% while the ounce troy of the precious metal is following the same path, down 0.57% at $1,335.
Bourses across the pond closed in a ‘sea of red’ after poor earnings reports from European blue chips. Banks also collaborated with the downside after the ECB announced it would run stress tests for more than 100 European banks. The single currency alternates gains and losses at the top of the weekly range, gearing up for an imminent assault to the 1.3800 barrier.
In the commodities’ space, the barrel of WTI extends its decline to $97.25, losing 1.03% while the ounce troy of the precious metal is following the same path, down 0.57% at $1,335.