As the balance sheet season picks up nowadays, the US stocks did not show an important movement today. The decrease in the profit of Alphabet Inc. also supported the neutral position of the US stocks in the global markets.
US stocks showed a neutral position, as the balance sheet season is picking up, with Google’s founder company Alphabet Inc.‘s profit falling in the second quarter of the year.
The S & P 500 Index climbed 0.3% at 9:50 am New York time and reached a level of 2.477. The indicator has changed little after the investors turned their attention to profit disclosures and the the Federal Reserve’s (Fed) interest rate decision to be announced on Wednesday, since it reached record levels last week.
On the other hand, Energy stocks increased 1.7 percent with 2.1 percent gain in oil, leading to gains. Financial stocks gained 1.4 percent, excluding Moody’s. Technology shares dropped 0.5 percent. The shares of Alphabet fell by 3.1 percent after its second-quarter profit announcement.
When we look at the currencies, we see that South African Rand was the most depreciated in the developing market. The South African Rand was the most depreciated among the developing market currencies. Investors are waiting for a meeting of the Federal Reserve (Fed) which will give more clues on interest hikes in the US this week.
The MSCI emerging market index decreased by 0.1 percent and the emerging market capitalization index decreased by 0.3 percent. This was the first fall in the day showed. Bloomberg Dollar Spot Index did not change much.
On emerging markets, Rand was 0.6 percent weaker. The Turkish Lira lost 0.2 percent while the domestic and international bond interest rates in the country increased.