The Dow Jones Industrial Average fell 42.01 points,
or 0.13%, to 33,488.82, and the S&P 500 gained 8.73
points, or 0.21%, to 4,080.36.
European stocks veered sharply lower, and were on track for
their largest one-day percentage drop in a month as banking
sector jitters offset solid Microsoft and Alphabet earnings.
The pan-European STOXX 600 index lost 0.92% and
MSCI's gauge of stocks across the globe gained
0.09%.
Emerging market stocks rose 0.34%. MSCI's broadest index of
Asia-Pacific shares outside Japan closed 0.25%
higher, while Japan's Nikkei lost 0.71%.
Benchmark 10-year Treasury yields steadied while yields on
short-term Treasuries tumbled ahead of a possible vote on the
U.S. debt ceiling.
Benchmark 10-year notes fell 2/32 in price to
yield 3.4033%, from 3.398% late on Tuesday.
The 30-year bond fell 1/32 in price to yield
3.6542%, from 3.652% late on Tuesday.
The U.S. dollar softened against a basket of major world
currencies as the previous session's flight to safety faded and
the euro gained strength
The dollar index fell 0.46%, with the euro up
0.68% to $1.1047.
The Japanese yen strengthened 0.25% to 133.38 per dollar,
while Sterling was last trading at $1.2475, up 0.54% on
the day.
Crude prices extended their losses as weak economic data
further fueled fears of an economic downturn.
U.S. crude fell 0.23% to $76.89 per barrel and Brent was last at $79.86, down 0.92% on the day.
Gold prices were steady as the precious metal flirted with
the key $2,000 per ounce level amid ongoing turmoil surrounding
the U.S. banking sector.
Spot gold was last down 0.08% at $1,997.92 an ounce.
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World FX rates YTD Global asset performance Asian stock markets ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Stephen Culp; Editing by Emelia Sithole-Matarise)
(Updates to U.S. markets open, changes dateline to NEW YORK (ws
LONDON))
By Stephen Culp
NEW YORK, April 26 (Reuters) - The S&P 500 inched higher
on Wednesday and the dollar weakened as investors weighed solid
company earnings against weaker-than-expected economic data and
ongoing wrangling in Washington on raising the debt ceiling.
Tech shares did the heavy lifting, keeping the
benchmark index in positive territory, its gains held in check
by weakness in economically-sensitive sectors such as
industrials and transport .
"Megacaps are doing well based on strong earnings," said
Bill Northey, senior investment director at U.S. Bancorp in
Helena, Montana. "Beneath the surface we're seeing narrow
breadth."
Upbeat earnings from Microsoft , Alphabet Inc and Boeing Co took the sting out of some
disappointing economic data, which suggested weakening corporate
expenditures on core capital goods.
"Monthly durable goods reports are historically quite
volatile." Northey added. "(But) the broader trend fits within
the mosaic of a decelerating U.S. economic environment."
Ongoing congressional wrangling over raising the federal
debt ceiling also added to investor anxieties.
"The debt ceiling represents a potential event risk which
would be negative for capital markets," Northey said.
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