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Stocks Pare Gains on Mixed Earnings; Bonds Slump: Markets Wrap


Added 04-16-19 10:04:02am EST - “UnitedHealth Group Inc. erased a gain that topped 3 percent as its executives spoke on an earnings call. JB Hunt Transport Services Inc. dragged trucking companies lower after its profit disappointed. In Asia, shares in China and…” - Finance.yahoo.com

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Posted By TheNewsCommenter: From Finance.yahoo.com: “Stocks Pare Gains on Mixed Earnings; Bonds Slump: Markets Wrap”. Below is an excerpt from the article.

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U.S. stocks’s pursuit of all-time highs stalled as investors sifted through a group of high-profile earnings for clues on the strength of the American economy. The 10-year Treasury yield reached its highest level since the March Federal Reserve meeting.

The S&P 500 clung to a six-month high, though traded off session highs. UnitedHealth Group Inc. erased a gain that topped 3 percent as its executives spoke on an earnings call. Johnson & Johnson and BlackRock Inc. advanced after strong results. Bank of America Corp. slipped on slower net interest income growth. JB Hunt Transport Services Inc. dragged trucking companies lower after its profit disappointed.

Treasuries continued to slump, with rates reclaiming levels last seen before the Fed’s dovish tilt a month ago. In Europe, equities climbed for a fifth day, driven by insurance and financial services firms. In Asia, shares in China and Hong Kong outperformed markets in Japan and South Korea. The euro pared a decline after Bloomberg reported that European Central Bank officials are said to lack enthusiasm for any revamp of their negative-interest rate tool.

Investors are spending the holiday-shortened week assessing the chances that stocks will sustain their rally even as similar gains in global investment-grade bonds have ebbed since late March. Optimism over earnings appears to be boosting bullish sentiment in equities, though volumes have been muted.

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