Financials Again Here is the latest update of EuroStoxx 600 from IBES: Second quarter earnings are expected to increase 15.0% from Q2 2016. Excluding the Energy sector, earnings are expected to increase 12.8%. Second quarter revenue is expected to increase 4.0% from Q2 2016. Excluding the Energy sector, earnings are expected to increase 2.7%. 243
Mario Draghi of ECB was more hawkish than the consensus in his press conference yesterday after ECB meeting. Today we see euro strengthening against the dollar even after an extraordinarily strong jobs report. Market participants are beginning to think that monetary policy will tighten in Europe at a faster rate compared to the tightening in
Wall Street rose for a second session on Yellen’s comments easing rate hike concerns while the dollar tumbled. Longer-dated Treasuries and gold fell on higher-risk appetite. Oil erased earlier gains and ended near flat after U.S. data showed crude inventories at all-time peak. U.S. Labor Department releases weekly report on new applications for unemployment benefits.
The euro jumped and major indexes lost ground as new stimulus measures by the European Central Bank were offset by a signal from its chief Mario Draghi that more rate cuts were unlikely, while Treasuries dropped. Oil prices fell as refinery maintenance threatened to raise record inventories of crude and gold advanced.