Apple and Amazon are the second and third biggest companies in the S&P 500 behind Microsoft Corp., accounting for almost 10% of the index by weighting. The measure is on track for its best month in a year, though Friday’s session is setting up poorly for bulls.
The Treasury yield curve inverted between 20 and 30 years on Thursday for the first time since the U.S. government reintroduced a two-decade maturity in 2020. Two-year rates fell below 0.5% after a torrid two day incrase.
Investors have been bombarded by earnings all week from some of America’s biggest companies. Industrial bellwether Caterpillar Inc. rose after an earnings beat. Ford Motor Co. soared after lifting forecasts and resuming dividends. EBay Inc. dropped after reporting disappointing results late Wednesday. After the close of regular trading,
Excluding financial firms, companies in the S&P 500 that announced results have boosted net-profit margins by 40 basis points to 12.4% from the previous quarter, according to data compiled by Bank of America Corp. The improvement has spread across major industries, with all but energy and consumer staples posting better margins.
Earlier, a report showed that the U.S. economy expanded at an annual rate of 2% in the three months through September, lower than the 2.6% median estimate in a Bloomberg survey, as consumer spending slowed. The GDP price index also slowed from the last quarter, though it still rose more than analysts’ expectations. A separate report showed that weekly jobless claims fell to a pandemic low.
Source : https://leaderpost.com/pmn/business-pmn/asian-stocks-slip-bond-curves-flag-growth-fears-markets-wrap254