Zürcher Nachrichten - Stocks diverge as investors weigh earnings, Trump policies

EUR -
AED 3.820598
AFN 77.661495
ALL 98.909854
AMD 412.515034
ANG 1.875336
AOA 950.210229
ARS 1096.228133
AUD 1.654388
AWG 1.874928
AZN 1.777928
BAM 1.954047
BBD 2.100936
BDT 126.427813
BGN 1.956026
BHD 0.391978
BIF 3042.532299
BMD 1.040182
BND 1.403654
BOB 7.19055
BRL 6.038566
BSD 1.040587
BTN 90.980081
BWP 14.441838
BYN 3.405278
BYR 20387.566856
BZD 2.090125
CAD 1.488838
CDF 2969.719622
CHF 0.937532
CLF 0.026312
CLP 1009.725368
CNY 7.563267
CNH 7.574064
COP 4344.392862
CRC 528.026373
CUC 1.040182
CUP 27.564823
CVE 110.519331
CZK 25.175942
DJF 184.860869
DKK 7.459967
DOP 64.543755
DZD 140.606567
EGP 52.340186
ERN 15.60273
ETB 132.959638
FJD 2.401266
FKP 0.85668
GBP 0.83177
GEL 2.906167
GGP 0.85668
GHS 16.028985
GIP 0.85668
GMD 74.89308
GNF 9002.775012
GTQ 8.044861
GYD 217.694733
HKD 8.099528
HNL 26.51647
HRK 7.676073
HTG 136.109222
HUF 406.221964
IDR 16961.207406
ILS 3.679467
IMP 0.85668
INR 90.843618
IQD 1362.638397
IRR 43791.661707
ISK 146.800855
JEP 0.85668
JMD 164.314194
JOD 0.7379
JPY 158.648039
KES 134.183701
KGS 90.964273
KHR 4181.531467
KMF 491.95355
KPW 936.1639
KRW 1503.832993
KWD 0.320854
KYD 0.86711
KZT 537.879779
LAK 22603.154688
LBP 93148.296628
LKR 310.654337
LRD 204.967949
LSL 19.321369
LTL 3.071387
LVL 0.629195
LYD 5.112529
MAD 10.410921
MDL 19.478248
MGA 4880.622202
MKD 61.530145
MMK 3378.470504
MNT 3534.538488
MOP 8.346813
MRU 41.737293
MUR 48.577847
MVR 16.02896
MWK 1805.755946
MXN 21.403778
MYR 4.600204
MZN 66.478289
NAD 19.321367
NGN 1557.88289
NIO 38.296018
NOK 11.674524
NPR 145.570427
NZD 1.82812
OMR 0.400463
PAB 1.040567
PEN 3.862573
PGK 4.176294
PHP 60.219258
PKR 290.210744
PLN 4.201504
PYG 8198.606643
QAR 3.787817
RON 4.976443
RSD 117.094316
RUB 101.936364
RWF 1447.880408
SAR 3.900849
SBD 8.815735
SCR 14.964251
SDG 625.138829
SEK 11.346279
SGD 1.402597
SHP 0.85668
SLE 23.818865
SLL 21812.095998
SOS 594.463975
SRD 36.515603
STD 21529.666918
SVC 9.104921
SYP 13524.446121
SZL 19.15494
THB 34.908422
TJS 11.357513
TMT 3.651039
TND 3.305635
TOP 2.43621
TRY 37.355983
TTD 7.047678
TWD 34.169664
TZS 2649.893797
UAH 43.309968
UGX 3829.601758
USD 1.040182
UYU 45.27982
UZS 13512.009961
VES 61.77274
VND 26183.980953
VUV 123.492494
WST 2.91337
XAF 655.359708
XAG 0.032145
XAU 0.000363
XCD 2.811144
XDR 0.798092
XOF 655.375445
XPF 119.331742
YER 258.953635
ZAR 19.280319
ZMK 9362.887837
ZMW 29.160843
ZWL 334.938174
  • RBGPF

    0.2700

    66.27

    +0.41%

  • BCC

    -0.8200

    124.75

    -0.66%

  • NGG

    0.8100

    62.67

    +1.29%

  • SCS

    0.2500

    11.56

    +2.16%

  • RYCEF

    0.1000

    7.5

    +1.33%

  • VOD

    0.0700

    8.27

    +0.85%

  • RELX

    0.9100

    50.77

    +1.79%

  • RIO

    0.1700

    61.37

    +0.28%

  • CMSC

    0.1600

    23.5

    +0.68%

  • CMSD

    0.1400

    23.82

    +0.59%

  • BCE

    0.5000

    24.9

    +2.01%

  • JRI

    0.1900

    12.83

    +1.48%

  • BTI

    0.8700

    41.1

    +2.12%

  • GSK

    2.8600

    37.7

    +7.59%

  • BP

    0.0300

    31.67

    +0.09%

  • AZN

    1.9750

    70.935

    +2.78%

Stocks diverge as investors weigh earnings, Trump policies
Stocks diverge as investors weigh earnings, Trump policies / Photo: Richard A. Brooks - AFP

Stocks diverge as investors weigh earnings, Trump policies

Global stock markets were pulled in different directions on Friday as investors weighed corporate earnings, economic data and US President Donald Trump's policies.

Text size:

Wall Street stocks hesitated at the opening bell, with the S&P 500 edging higher but still enough to set another record high. The Dow dipped while the tech-heavy Nasdaq rose a few points.

"It is fair to say that there is a festering sense that the market may be due for a consolidation period given the scope of recent gains," said Briefing.com analyst Patrick O'Hare, pointing to a six percent gain by the S&P 500 since the beginning of last week and a similar rise in the Nasdaq.

"Those are big moves in front of a big week next week that will feature earnings reports from Apple, Meta Platforms, Microsoft, Tesla and Amazon.com" as well as an interest rate meeting by the US Federal Reserve and the release of the Fed's preferred inflation gauge, he added.

Wall Street's major indices were still poised to end the week with solid gains, thanks in no small part to comments and actions by Trump since his return to the White House on Monday.

In Asian trading, Hong Kong gained nearly two percent and Shanghai also advanced following Trump's tax-cut pledge and his more friendly comments with regard to China.

In a speech via video link Thursday at the World Economic Forum in Davos, Trump pushed for lower interest rates and said he would cut taxes for companies investing in the United States while imposing tariffs on those who do not.

He also said in a separate interview that he would "rather not" impose tariffs on China and signalled openness at negotiating a trade deal with Beijing.

"Clearly these are off-the-cuff remarks but it has left the overnight market feeling like there's a scenario where China escapes the worst of the tariff regime," said Jim Reid, managing director at Deutsche Bank.

In Japan, Tokyo's stock market dropped and the yen briefly rallied after the Bank of Japan lifted borrowing costs to their highest level since 2008 and flagged further increases in the pipeline.

Moody's Analytics said "the weak yen is a key reason" for the hike, along with a run of forecast-beating inflation reports.

The yen has come under pressure against the dollar in recent months after the US Federal Reserve dialled back its expectations for rate cuts this year, and amid concerns that Trump's policies would reignite inflation.

In Europe, London stocks fell after data showed an increase in job cuts despite business activity coming out stronger than expected.

In company news, British fashion house Burberry showed signs of recovery despite posting a further decline in sales, sending its shares soaring 11 percent.

In the wake of the results, Paris stocks rose thanks to gains in the luxury sector, with Gucci-owner Kering jumping four percent and LVMH up one percent on hopes of a China-led recovery.

Meanwhile data showed that business activity in the eurozone bounced back in January after a two-month contraction.

The release of the closely watched data throughout Europe "brought a significant degree of optimism, coming as global leaders discuss the hopelessness of the region in Davos", said Joshua Mahony, chief market analyst at Scope Markets.

Oil prices recovered some of Thursday's losses that followed Trump's call to Saudi Arabia and OPEC to lower prices, with a recent build in US stockpiles adding to the weakness.

- Key figures around 1430 GMT -

New York - Dow: DOWN 0.2 percent at 44,497.75 points

New York - S&P 500: UP less than 0.1 percent at 6,120.41

New York - Nasdaq Composite: UP 0.1 percent at 20,079.60

London - FTSE 100: DOWN 0.4 percent at 8,531.37

Paris - CAC 40: UP 0.5 percent at 7,935.15

Frankfurt - DAX: UP less than 0.1 percent at 21,417.21

Tokyo - Nikkei 225: DOWN 0.1 percent at 39,931.98 (close)

Hong Kong - Hang Seng Index: UP 1.9 percent at 20,066.19 (close)

Shanghai - Composite: UP 0.7 percent at 3,252.63 (close)

Dollar/yen: UP at 156.38 yen from 156.03 yen on Thursday

Euro/dollar: UP at $1.0479 from $1.0415

Pound/dollar: UP at $1.2422 from $1.2352

Euro/pound: UP at 84.36 pence from 84.31 pence

West Texas Intermediate: UP 0.5 percent at $74.98 per barrel

Brent North Sea Crude: UP 0.7 percent at $78.80 per barrel

burs-rl/js

A.Ferraro--NZN