Symbol	Name	Price		Change	%Change
NIKKEI	NIKKEI	18885.44		-209.80	-1.10%
HSI	HSI	22718.15	---	UNCH	0%
ASX 200	S& P/ASX 200	5702.20		-46.24	-0.80%
SHANGHAI	Shanghai	3103.43	---	UNCH	0%
KOSPI	KOSPI Index	2074.45		10.28	0.50%
CNBC 100	CNBC 100 ASIA IDX	6967.47		-27.47	-0.39%

 

 

Asia  Markets

 

 

 

Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	19885.73		-5.27	-0.03%
S& P 500	S& P 500 Index	2274.64		4.20	0.18%
NASDAQ	NASDAQ Composite	5574.12		26.63	0.48%

 

Stocks close mostly higher after big bank earnings Nasdaq posts record

Stocks closed mostly higher on Friday, boosted by strong quarterly earnings from U.S. banks, while investors also digested several pieces of economic data.

The Dow Jones industrial average closed slightly lower, with Wal-Mart contributing the most losses.

" We' re taking a breather from last year' s Trump trade," said Luke Bartholomew, investment manager at Aberdeen Asset Management. " The question is whether the rally holds or unwinds as we get more details" about President-elect Donald Trump' s policies.

The Nasdaq composite advanced around 0.5 percent and recorded its sixth record close of 2017. The S & P 500 gained 0.2 percent, with financials rising 0.5 percent to lead advancers.

For the week, the Dow and S & P posted slight declines, but the Nasdaq rose nearly 1 percent.

" Short-term momentum continues to weaken as the major indices move sideways," said Katie Stockton, chief technical strategist at BTIG, in a note to clients. " The upper boundary of the consolidation phase [in the S & P] is near 2278, and The lower boundary is near 2250. A breakout or breakdown above or below these levels is likely to determine the next tradable move for the market.

JPMorgan Chase, Bank of America and PNC Financial all reported better-than-expected profits, but only JPMorgan exceeded revenue estimates. Another company that reported quarterly results on Friday was BlackRock, the largest asset manager in the world. -expected profits, helped by lower expenses and a rush into low-cost exchange-traded funds.

Investors also digested several pieces of economic data.

US wholesale prices rose 0.3 percent in December, led higher by more expensive gas, food and cars. The Labor Department said the producer price index, which measures price changes before they reach consumers, increased 1.6 percent last year. Meanwhile, December retail sales rose 0.6 percent, protagonist a boost in confidence after the US election.

" The upcoming president is to create more jobs for Americans and also inflate the wage growth number. This surely will help the US retail sales number in the coming months, if he delivers what he has promised," Naeem Aslam, chief market analyst at Think Markets in London, said in a note.

Other economic data released Friday included December consumer sentiment, which came in slightly below estimates and business inventories, which rose 0.7 percent in November.

Overseas, European equities rose sharply, with the pan-European Stoxx 600 index advancing 0.95 percent.

Gold futures for February delivery fell $ 3.60 to settle at $ 1,196.20 per ounce.

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Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	19891.00		-63.28	-0.32%
S& P 500	S& P 500 Index	2270.44		-4.88	-0.21%
NASDAQ	NASDAQ Composite	5547.49		-16.16	-0.29%

 

Nasdaq falls for first time in 2017 as Trump disappoints Street awaits earnings

Stocks fell on Thursday after President-elect Donald Trump disappointed investors during his first news conference since July, while Wall Street geared up for the start of earnings season.

" I think we' re moderating some of the moves we' ve seen over the past few weeks, and that' s OK," said Art Hogan, chief market strategist at Wunderlich Securities. " We' ve baked in a lot of good news now We need policy details. "

The Dow Jones industrial average closed about 65 points lower, with Goldman Sachs and Walt Disney contributing the most losses. At session lows, the blue-chips index had fallen more than 180 points.

The S & P 500 dropped around 0.2 percent, with financials falling 0.7 percent to lead decliners. Pressuring the financial sector were bank stocks, as the SPDR S & P Bank ETF (KBE) shed 1.3 percent. The Nasdaq composite closed lower for the first time in 2017, Falling 0.29 percent.

" Donald Trump' s press conference on Wednesday was not what investors wanted to hear, with talk of protectionism and more company bashing not really being market friendly," Craig Erlam, senior market analyst at Oanda, said in a note.

Trump took shots at the pharmaceutical industry, which sent health care and biotechnology stocks reeling. He also failed to provide new details on three of his key policies: tax reform, deregulation of certain sectors and fiscal stimulus.

" The market ran to the upside after the election of the prospects of lower corporate and personal taxes, infrastructure spending and other measures," said Ernie Cecilia, CIO at Bryn Mawr Trust. " But the details and timing of that policies are also very important . "

US Treasury prices also rose, with the benchmark 10-year note yield falling to 2.35 percent and the short-term two $ 1.50 per ounce, a key technical level. So-called safe-haven assets rose on Thursday, with gold futures briefly breaking above $ 1,200 per ounce, -year note yield slipping to 1.17 percent.

In economic news, weekly jobless claims rose less than expected, while U.S. import prices rose in last month, boosted by higher oil prices. Investors also digested remarks from several Federal Reserve officials.

Overseas, European equities fell, with the pan-European Stoxx 600 index sliding 0.65 percent.

US crude futures rose 76 cents, or 1.45 percent, to settle at $ 53.01 per barrel.

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