Hitachi jumped 8.4 percent to 659 yen, the biggest jump since March 2011 after reporting preliminary net income of 32 billion yen above its forecast of 15 billion yen. Sales and operating profit also exceeded expectations. The company is scheduled to report final results on Oct. 29.
EMERGING MARKETS-Brazil stocks slumps off 7-month high, Mexico falls
Mexican stocks have traded in an increasingly narrow range in recent weeks. Most companies will report earnings later this week. * Brazil’s benchmark Bovespa stock index snapped a three-day winning streak to drop 1.81 percent – the biggest one-day percentage fall this month. On Tuesday, stocks had closed right above a key resistance level. * A policy adviser to the People’s Bank of China told Reuters on Tuesday that the authority may tighten cash conditions in the financial system to address inflation risks, which could also sap economic growth in a key market for Latin American iron ore, soybeans, oil and copper. * Lender Banco Bradesco SA fell 2.03 percent after JPMorgan Securities analysts lowered their recommendation on the shares to “neutral” from “overweight,” saying a recent rally in the stock has made it less attractive.
Stocks: Momentum fades with earnings eyed
3 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Stocks close lower after recent record run Adam Shell, USA TODAY 5:29 p.m. EDT October 23, 2013 The stock market needs good news to keep going up. But Wednesday it got bad earnings news from economic bellwether Caterpillar, which threw cold water on the rally. NEW YORK, NY – AUGUST 23: The Nasdaq stock market is viewed one day after the the electronic exchange experienced a a three-hour trading delay due to a technical problem on August 23, 2013 in New York City. Both Wall Street and Nasdaq were operating normally on Friday with stocks up slightly in afternoon trading. (Photo by Spencer Platt/Getty Images) ORG XMIT: 178006093 ORIG FILE ID: 177469065 (Photo: Spencer Platt Getty Images) Story Highlights S&P 500 closed at record high in prior session Big earnings miss Best Stocks to Purchase by Caterpillar weighs on Dow Oil dips further below $100 a barrel; 10-year Treasury dips below 2.5% SHARE 20 CONNECT 30 TWEET 3 COMMENTEMAILMORE NEW YORK — Stocks, dragged down by an earnings miss from a key blue chip stock and news of coming bank stress tests in Europe, lost altitude Wednesday, a day after the S&P 500 set an all-time high and the Nasdaq composite set another 13-year high.
Stocks pause for a breather after record run
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