Global Stocks Slip as Investors Look Ahead to Earnings

Datum : 29/10/2019 @ 11h55
Quelle : Dow Jones News
Name : Fresenius SE & Co. KGaA (FRE)
Kurs : 34.1  0.3 (0.89%) @ 17h35
Fresenius SE & Co. KGaA share price Chart

Global Stocks Slip as Investors Look Ahead to Earnings

Fresenius SE & Co. KGaA (XE:FRE)
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6 Monate : Von Okt 2019 bis Apr 2020

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By Anna Isaac 

Stocks ticked lower as investors look ahead to corporate earnings and fresh U.S. data for cues on the health of the global economy.

U.S. stock futures linked to the S&P 500 index drifted down 0.1% a day after the gauge hit a record. Major U.S. businesses reporting Tuesday will include private-equity giant KKR, drugmaker Pfizer, food-manufacturer Kellogg, auto maker General Motors and financial-services firm Mastercard.

Shares in Google's parent company, Alphabet, dropped 1.3% in offhours trading after the technology giant reported mixed third-quarter progress. Climbing online advertising sales were juxtaposed with rising costs and poor performance in its investment portfolio.

The Stoxx Europe 600 index declined 0.5%, led by losses in financial services and the oil and gas sectors.

Fresenius Medical Care and its parent, Fresenius SE, led gains in European stocks. Shares in the Fresenius Medical rose 5.4% after the maker of products for treating kidney disease posted higher third-quarter profit and revenue. It's German parent climbed 4.4% after the health care company also reporter stronger figures.

Investors with interests in U.K. assets will be watching Parliament closely again for Brexit developments Tuesday. Prime Minister Boris Johnson is poised to try once more to secure an early general election on Dec. 12 to break the parliamentary deadlock over his divorce deal with the European Union.

The pound dropped 0.4% against the U.S. dollar, while the FTSE 250 index declined 0.4%.

Across Asian markets, the picture was more mixed, with the Nikkei 225 index up 0.5% while the Shanghai Composite gauge was down 0.9%.

Brent crude, the global oil benchmark, fell 0.6% to $60.88 a barrel following data showing rising U.S. inventories Monday. Investors will look at American Petroleum Institute data due out later Tuesday.

Write to Anna Isaac at anna.isaac@wsj.com

 

(END) Dow Jones Newswires

October 29, 2019 06:40 ET (10:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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