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- Global Stocks: U.S. indices posted slight gains
Global Stocks: U.S. indices posted slight gains
U.S. stock indices gained only slightly on Monday. Energy stocks were the biggest negative contributors.
Morgan Stanley raised concerns over quarterly earnings of U.S. companies after it reported a profit of $1.02 billion, or 48 cents a share compared with the $1.69 billion, or 83 cents a share a year ago.
This week 117 companies of the S&P 500 will publish their reports. A median forecast suggests a 6.7% decline in profits in the third quarter. Energy and commodity companies are likely to report the weakest results.
The Dow Jones Industrial Average climbed 14.57 points, or less than 0.1%, to 17,230.54. The S&P 500 advanced by less than a point to 2,033.66 (its energy sector fell by 1.9%). The Nasdaq Composite Index climbed 18.78, or 0.4%, to 4,905.47.
This morning in Asia Hong Kong Hang Seng declined 0.48%, or 110.63, to 22,964.98. China Shanghai Composite Index lost 0.09%, or 2.96, to 3.383.75. The Nikkei rose 0.44%, or 79.17, to 18,210.40.
Asian indices posted mixed results.
Japanese stocks advanced amid a weaker yen, which is favorable for exporters. Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group gained more than 1% each.
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