Markets

Sentiment Remained Fragile as Corporate Announcements Disappoint

Disappointments from corporate earnings announcements have limited gains in stock markets. Caterpillar, despite its mildly higher-than-expected earnings result, lowered its full-year earnings forecast. The company's CEO stated that "as we've moved through the year, we have seen continued economic weakening and uncertainty". Wall Street ended the day with modest gain with the DJIA and the S&P 500 adding +0.02% and +0.04% respectively. In the commodity sector, crude oil prices plunged with the front-month contract for WTI crude oil closing below 90 for the first time since October 8 while the equivalent Brent crude contract declined for a 5th consecutive day. The Comex gold contract initially slipped a 6-wewek low 1726.3 before rebounding to 1726.3, up +0.13%, at close.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities