Latest news with #corporateearnings
Zawya
18 minutes ago
- Business
- Zawya
Mideast Stocks: Major Gulf markets ease as earnings underwhelm
Major Gulf stock markets edged lower in early trade on Wednesday, weighed down by lacklustre corporate earnings and as investors monitored global trade developments ahead of a looming U.S. tariff deadline. Investors turned more cautious after trade talks between the U.S. and China ended without any substantive agreement. U.S. President Donald Trump's tariff policies continue to fuel worries over global growth, with potential slowdowns in trade and consumption threatening energy demand and the fiscal stability of oil-dependent Gulf economies. Saudi Arabia's benchmark index dipped 0.1%, pressured by a string of uneven earnings across key sectors. Halwani Brothers fell 3.8% while Nahdi Medical slipped 4.5% after the firms reported a drop in their second-quarter profits, with Halwani's profit collapsing nearly 85%. Dubai's benchmark index was flat, pausing after a nearly two-decade high in the previous session, weighed down by a 1.9% drop in Mashreqbank, which posted a 17% year-on-year decline in second-quarter profit. The Abu Dhabi index edged slightly lower as mixed earnings tempered investor appetite, disrupting the momentum built from the previous week's robust results. Americana Restaurants International and ADNOC Drilling added nearly 0.5% each, after the former's second-quarter earnings rose year-on-year but missed estimates, while the latter held its full-year outlook steady despite posting solid gains. Qatar's benchmark index slipped 0.1% amid broad-based declines, as investors continued to lock in profits following a recent rally that pushed the index to a more than two-and-a-half-year high. Qatar Islamic Bank led losses, falling nearly 1%. Investors across the region remained focused on the U.S. Federal Reserve's policy decision, due later in the day. While the Fed is widely expected to hold interest rates steady, markets are bracing for possible dissent by some central bank officials in favour of lower borrowing costs. The Fed's stance holds significant implications for Gulf economies, where most currencies are pegged to the U.S. dollar, making it a key anchor for regional monetary stability. (Reporting by Amna Mariyam in Bengaluru; Editing by Mrigank Dhaniwala)
Yahoo
an hour ago
- Business
- Yahoo
Morgan Stanley sees a 'rolling recovery' underway that's set to drive the stock market up 12% by mid-2026
Morgan Stanley says that corporate earnings are in a "rolling recovery." The bank is doubling down on its bullish forecast for the S&P 500 to jump to 7,200 in a year. Morgan Stanley sees the outlook for corporate earnings boosting stocks to new heights in the coming 12 months. After markets were battered in April amid Donald Trump's tariff announcements, earnings are getting a boost from a handful of sources. The bank said that April's price action represented the end of a "rolling earnings recession" that began in 2022. "Now, we appear to be transitioning to a rolling recovery backdrop aided by positive operating leverage, AI adoption, dollar weakness, cash tax savings from the OBBBA, easy growth comparisons, pent up demand for many sectors, and a high probability of Fed cuts by 1Q26," the bank's chief investment office Michael Wilson wrote. The bank sees the S&P 500 rising to 7,200 in its bull case, a 12% jump from Friday's close. It also said the probability of such an outcome for the broad index is on the rise. Wilson said that high valuations that some observers have been fretting over appear to be justified. The bank recommends the industrials sector as its top pick, even after it has been the top-performing sector of the S&P 500 year-to-date. Major market indexes have risen steadily over the past week, with the S&P 500 closing at record highs on July 25. The index is up 9% year-to-date. Morgan Stanley's prediction comes as economic uncertainty appears to be easing. With President Donald Trump announcing a new trade agreement with the European Union and the Federal Reserve expected to cut interest rates later this year, investors may be feeling more confident in the market's strength. "The historically sharp inflection we're seeing in earnings revisions breadth confirms this process is underway," the bank stated, noting that it sees this phenomenon as underappreciated. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Business
- Yahoo
Tesla and 3 More Stocks Whose Charts Point to Post-Earnings Gains
Moves following corporate earnings, which often clarify the technical picture for a stock, are pointing to gains for some well-known names. The charts for Tesla Alphabet Chipotle Mexican Grill and Las Vegas Sands stand out among those for more than 100 companies, reviewed by Barron's, that reported their earnings last week. Shares of Tesla, which is being thought of less as an electric-vehicle play, and more of a bet on artificial intelligence, robotics and energy storage, dropped 8.1% Thursday in the stock's first negative reaction to earnings in four quarters. Inicia sesión para acceder a tu cartera de valores
Bloomberg
a day ago
- Business
- Bloomberg
Bloomberg Daybreak Asia: Markets Slip as Tariff Sentiment Cools
Asian stocks slipped after a flat session on Wall Street, as investors stayed cautious amid a week packed with economic data and corporate earnings. The MSCI Asia-Pacific gauge dropped 0.7%, a third consecutive day of decline. The dollar steadied Tuesday after climbing the most since May in the prior session. The S&P 500 briefly topped 6,400, but closed little changed. Oil held its gain after President Donald Trump pushed for Russia to reach a swift truce with Ukraine or face potential economic penalties. We talk markets with Vance Howard, CEO and Portfolio Manager at Howard Capital Management. Plus - Commerce Secretary Howard Lutnick says a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm. Lutnick's comments followed the start of a new round of talks between the world's two largest economies - this time in Stockholm, where Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent led the respective delegations. Earlier rounds saw Washington and Beijing agree to reduce tit-for-tat levies and ease export controls on certain technology and rare-earth minerals, easing tensions that had rattled financial markets as Trump moves to enact a sweeping tariff agenda. We get perspective from Marc Franklin, Managing Director & Senior Portfolio Manager, Asset Allocation, Asia at Manulife Investment Management. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.
Yahoo
a day ago
- Business
- Yahoo
Morgan Stanley sees a 'rolling recovery' underway that's set to drive the stock market up 12% by mid-2026
Morgan Stanley says that corporate earnings are in a "rolling recovery." The bank is doubling down on its bullish forecast for the S&P 500 to jump to 7,200 in a year. Morgan Stanley sees the outlook for corporate earnings boosting stocks to new heights in the coming 12 months. After markets were battered in April amid Donald Trump's tariff announcements, earnings are getting a boost from a handful of sources. The bank said that April's price action represented the end of a "rolling earnings recession" that began in 2022. "Now, we appear to be transitioning to a rolling recovery backdrop aided by positive operating leverage, AI adoption, dollar weakness, cash tax savings from the OBBBA, easy growth comparisons, pent up demand for many sectors, and a high probability of Fed cuts by 1Q26," the bank's chief investment office Michael Wilson wrote. The bank sees the S&P 500 rising to 7,200 in its bull case, a 12% jump from Friday's close. It also said the probability of such an outcome for the broad index is on the rise. Wilson said that high valuations that some observers have been fretting over appear to be justified. The bank recommends the industrials sector as its top pick, even after it has been the top-performing sector of the S&P 500 year-to-date. Major market indexes have risen steadily over the past week, with the S&P 500 closing at record highs on July 25. The index is up 9% year-to-date. Morgan Stanley's prediction comes as economic uncertainty appears to be easing. With President Donald Trump announcing a new trade agreement with the European Union and the Federal Reserve expected to cut interest rates later this year, investors may be feeling more confident in the market's strength. "The historically sharp inflection we're seeing in earnings revisions breadth confirms this process is underway," the bank stated, noting that it sees this phenomenon as underappreciated. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
