Stocks Mixed; Dollar Gains: Markets Wrap

European stocks struggled for traction on one of the busiest days for earnings of the year, after a series of positive corporate results spurred equities across Asia. The dollar steadied after slumping in the wake of the Federal Reserve’s latest decision.

The Stoxx Europe 600 Index swung between gains and losses as companies including Nokia Oyj and BASF SE beat estimates but the likes of Deutsche Bank AG and Airbus SE disappointed.

The euro fell for the first time in three days .

Traders have been digesting the latest decision from the U.S. central bank, which said near-term risks to the economic outlook appear balanced, but consumer price growth remains below its target.

As the initial market reaction faded, investors returned their focus to a corporate earnings season in which more than 80 percent of S&P 500 companies that have reported so far delivered higher-than-expected profit.

And here are the main moves in markets:

Currencies

The Bloomberg Dollar Spot Index increased 0.2 percent as of 8:38 a.m. in New York.

The euro declined 0.3 percent to $1.1699.

The British pound rose 0.2 percent to $1.3149, the strongest in more than 10 months.

The Swiss franc fell 1 percent to $0.9606, the biggest drop in more than 11 weeks.

Stocks

The Stoxx Europe 600 Index fell less than 0.1 percent, with healthcare stocks down 1 percent.

The U.K.’s FTSE 100 Index dropped 0.2 percent.

Germany’s DAX Index fell 0.7 percent.

The MSCI Emerging Market Index rose 0.8 percent to the highest in about three years.

S&P 500 Index futures rose 0.2 percent after the underlying gauge gained less than 0.1 percent Wednesday.

Bonds

The yield on 10-year Treasuries rose one basis point to 2.30 percent.

The German, French and British 10-year yields all fell three basis points after yesterday’s Treasury move.

Commodities

West Texas Intermediate crude fell 0.6 percent to $48.45 a barrel.

Gold gained 0.2 percent to $1,263.51 an ounce, the strongest in more than six weeks.

Source: Bloomberg Pro Terminal

Junior Trader Stefan Panteleev

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