Asian Stocks Mostly Fall Back Despite Latest Earnings-Driven Rally on Wall Street
Analysts said S&P 500 companies are expected to post nearly 30% earnings growth, while the Nasdaq and Dow also set records.
- Shares across Asia retreated Wednesday after U.S. stocks hit all-time highs, with The Dow Jones Industrial Average adding 0.5% to 51,521.28 amid record-setting market performance.
- Analysts expect companies in the S&P 500 to deliver nearly 30% earnings growth from a year earlier, marking the third consecutive quarter exceeding 25%, according to data provider FactSet.
- Nvidia's 28.3% surge this year has driven AI-related stocks to records. Jing Wen of Mizuho Bank said investors "continue to prioritize earnings momentum over near-term inflation risks."
- Bond Yields eased Tuesday, with the 10-year Treasury falling to 5.28% from 5.31% after oil prices steadied. Brent crude oil rose 0.9% to $101.49 per barrel.
- Delta Air Lines will report third-quarter results on Friday, with major banks following next week. Analysts caution that stock prices could easily retreat from record-high levels if companies fail to deliver strong earnings.
45 Articles
45 Articles
Most of Asia's stock exchanges retreated this Wednesday, after U.S. markets reached historical peaks, driven by the expectation of robust corporate profits. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Joplin Globe
World stocks fall back despite latest earnings-driven rally on Wall Street
World shares have retreated after U.S. stocks hit all-time highs, lifted by expectations of fat corporate earnings. U.S. futures were little changed and oil prices advanced. Shanghai's markets remained closed for a national holiday. On Tuesday, the S&P 500 climbed…
World stocks fall back despite latest earnings-driven rally on Wall St
World shares retreated Wednesday after U.S. stocks hit all-time highs, lifted by expectations of fat corporate earnings. In early European trading, the CAC 40 in Paris lost 0.4% to 7,836.77, while Britain’s FTSE 100 shed 0.1% to
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