U.S stocks slipped down on Thursday as investors focused their attention on more earnings reports. According to NextCandle.com's forecast, U.S indices should end the week mixed: the Dow was given a 73% probability of hitting a higher target, edging up from 13548.94 to 13588.73; the S&P 500 was also given a 72% probability of hitting a higher target, inching up from 1457.34 to 1464.02. Nasdaq, on the other hand, was given a 67% probability of hitting a lower target, stooping from 3072.87 to 3065.24.
Disappointing corporate earnings push stocks lower
U.S. stocks drooped on Thursday as investors digested the latest corporate earnings reports. Several companies announced disappointing results, particularly Google, which published its weaker-than-expected earnings a few hours too early.
Google's grim and accidental announcement sent its shares crashing down, as well those of other tech firms, and put a definite damper on investors' morale. Companies such as Microsoft (MSFT), AMD (AMD), RR Donnelly (RRD) and Nokia (NOK) published disappointing earnings, sending their shares sliding down.
Meanwhile, U.S economic data also had its impact on investor morale on Thursday: the initial jobless claims report indicated that the number of people filing for first-time unemployment benefits surged up to 388,000 last week, in contrast with the forecast 360,000. On the other hand, the Philadelphia Fed Manufacturing survey indicated progress in October's manufacturing activity in the district.
Global Stocks Still Rising
U.S indices closed in the red on Thursday as investors concentrate on corporate earnings reports: the S&P 500 shed 0.24%, from 1460.91 to 1457.34; the Dow finished practically flat, with a 0.06% loss from 13557 to 13548.94. Finally, Nasdaq retreated 1.01%, from 3104.12 to 3072.87.
European stocks finished higher on Thursday: Germany's DAX climbed 0.58%, France's CAC 40 added 0.22%, and finally Britain's FTSE 100 gained a minor 0.10%. Across the Pacific, Asian stocks ended solidly higher on Thursday as well: the Shanghai Composite climbed 1.24%, Hong Kong's Hang Seng added 0.48%, and finally Japan's Nikkei surged 2%.
Todays Forecast: U.S Indices Finish The Week Mixed
19 October 2012