EU stocks advance, US equities fall

It looks like the earning session in the US was not taken positively, and indices reversed yesterday’s gains to close in negative territory.

Despite Apple, Facebook, and Google beating estimates, the overall sentiment was rather bearish on Thursday. The opening bullish gaps in indices were met with heavy selling, sending indices sharply lower.

In Europe, some positive news came from France, as the Eurozone’s second-biggest economy grew 0.4% in the first three months of the year from the fourth quarter when it had contracted 1.4%. However, German GDP fell from 0.3% to -1.7%.

The GDP data for the whole eurozone is due later in the day, and the market expects a decline of 2% YoY, although a better result than -4.9% in the previous quarter. 

The US calendar will offer the PCE inflation indices, along with personal spending and income figures. These are usually not market-moving data, so no volatility is expected afterward. 

From other news, US yields are starting to accelerate again, possibly undermining tech stocks as the Nasdaq 100 index is starting to underperform again. 

Source: https://www.axiory.com/market-news/eu-stocks-advance-us-equities-fall