World Stock Markets Gain On Positive Earnings Reports, Minimal Risk Aversion

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.

(Kitco News) – Global equity markets were mostly firmer overnight, on upbeat corporate earnings reports. European shares were lifted on better Euro zone economic data released recently. U.S. stock indexes are pointed toward firmer openings when the New York day session begins.

Gold prices are lower and hit a six-week low overnight amid the ongoing better risk appetite in the world marketplace that is keeping investors away from the safe-haven metal.

In overnight news, the Euro zone’s Markit composite purchasing managers’ index (PMI) came in at 56.8 in April from 56.4 in March, hitting a six-year high. Euro zone retails sales data released Thursday was also better than forecast.

Traders are awaiting Friday morning’s U.S. jobs report for April from the Labor Department. The key non-farm payrolls number is forecast to come in at up around 190,000.

The marketplace is also awaiting this weekend’s French presidential elections. A surprise win by the right-wing candidate Marine Le Pen would likely roil many stock and financial markets. However, centrist candidate Emmanuel Macron fared pretty well in a televised debate Wednesday evening, which assuaged European market watchers. Macron is heavily favored to win Sunday’s election.

The key outside markets on Thursday morning see the U.S. dollar index trading slightly lower. The greenback bears still have the slight overall near-term technical advantage. Meantime, Nymex crude oil prices are weaker and the bears have the near-term technical advantage as prices hit a 5.5-month low earlier this week.

U.S. economic data due for release Thursday includes the weekly jobless claims report, the Challenger job cuts report, preliminary productivity and costs for the first quarter, the international trade report, manufacturers’ shipments and inventories, the global services PMI and monthly retail chain store sales.


To get full access to all Money Morning content, click here

About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and visitors become smarter, more confident investors.

Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.

The post World Stock Markets Gain On Positive Earnings Reports, Minimal Risk Aversion appeared first on Money Morning – We Make Investing Profitable.

Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I am a contractor for Money Map Press, publisher of Money Morning, Sure Money, and other information products. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. In some cases I receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.