Should Investors Be More Worried About Manufacturing and Earnings Data?
Market participants are instead cheering a rise in oil prices and the fact that earnings season could be a lot worse.
It was unusually difficult to find much of a pattern in this week’s data. Emerging markets were down fractionally, while the U.S. was up a tiny 0.6%. Europe did better, gaining 1.7%, while commodities returned an exemplary 3.7%. Meanwhile, the interest rate on the 10-year U.S. Treasury was up 0.14% to 1.89%.
After good earnings news from the financial sector last week, news out of high-profile tech stocks was not good. Both Alphabet (GOOG) and Microsoft (MSFT) disappointed investors with their reports, and Intel (INTC) announced some layoffs. Starbucks (SBUX) reported disappointing sales for its most recent quarter, too. However, some of the economically sensitive railroads delivered better-than-expected results.
Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.