Stocks fell, after China reported its economy slowed in the first quarter to 8.1% from 8.9% during the prior three months, more than anticipated. Also, The Thomson Reuters/University of Michigan’s initial index of consumer sentiment declined in April to 75.7 from 76.2 last month. Separately, consumer prices climbing 0.3% in March after a 0.4% rise the prior month. Rising borrowing costs in Spain also weighed on sentiment. Among big names, J.P. Morgan Chase & Co. reported a larger-than-expected profit in the first quarter and lost 3.6%. Tech sector also finished the week with losses, Google was down 4.1% in its worst drop since late January, as corporate-governance entities voiced concern about the most recent effort by the online search engine’s founders to retain control. Technology and finance will be well represented of the more than 90 S&P 500 companies reporting results in the days ahead. Earnings from eBay, Intel, International Business Machines, Qualcomm, Yahoo, American Express and Goldman Sachs Group are on tap this week. Negative news from Euro zone could bring selling pressure. Implied volatility inched higher on moderate trading volumes.
Monday, April 16, 2012
Earnings from techs and financials in the spotlight
Stocks fell, after China reported its economy slowed in the first quarter to 8.1% from 8.9% during the prior three months, more than anticipated. Also, The Thomson Reuters/University of Michigan’s initial index of consumer sentiment declined in April to 75.7 from 76.2 last month. Separately, consumer prices climbing 0.3% in March after a 0.4% rise the prior month. Rising borrowing costs in Spain also weighed on sentiment. Among big names, J.P. Morgan Chase & Co. reported a larger-than-expected profit in the first quarter and lost 3.6%. Tech sector also finished the week with losses, Google was down 4.1% in its worst drop since late January, as corporate-governance entities voiced concern about the most recent effort by the online search engine’s founders to retain control. Technology and finance will be well represented of the more than 90 S&P 500 companies reporting results in the days ahead. Earnings from eBay, Intel, International Business Machines, Qualcomm, Yahoo, American Express and Goldman Sachs Group are on tap this week. Negative news from Euro zone could bring selling pressure. Implied volatility inched higher on moderate trading volumes.
