December 11, 2017
Tuesday, April 19, 2016

Wall Street flat as weak earnings offset rise in oil

The S&P 500 and the Dow gave up early gains on Tuesday, but were still within shouting distance of their record highs, as investors assessed weak earnings reports by IBM and Netflix.

At 12:33 p.m. ET, the Dow Jones industrial average was up 2.94 points, or 0.02 percent, at 18,007.1, the S&P 500 was down 0.58 points, or 0.03 percent, at 2,093.76 and the Nasdaq Composite was down 37.99 points, or 0.77 percent, at 4,922.03.

European shares rose to three-month highs on Tuesday, helped by a rally in commodities-related stocks and encouraging trading updates from French cosmetics firm L'Oreal and advertising group Publicis.

L'Oreal rose 5 percent as it said it would outperform the market in 2016 and forecast another year of sales and profit growth after first-quarter sales rose more than expected .

The pan-European FTSEurofirst 300 index rose 1.5 percent to its highest closing level since January 6.

Meanwhile, Japanese stocks soared after a weaker yen and a bounce in oil prices helped the market reverse the previous day's steep decline.

The Nikkei share average climbed 3.7 percent to 16,874.44, erasing the previous day's 3.4 percent decline.

The Topix subindex for insurance shares ended 4.4 percent higher after clawing back much of the 5.8 percent it shed on Monday, as property and casualty insurers shares' plunged in the wake of Kyushu's devastating quakes.

The broader Topix gained 3.3 percent to end the day at 1,363.03 with each of its 33 subindexes in positive territory.

The JPX-Nikkei Index 400 rose 3.3 percent to 12,325.05.

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Tags:  US  stock market  Europe  Nikkei  

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