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Stock market today: Asian benchmarks mostly slide as investors focus on earnings

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Earnings,General News,Australia

Asian shares are mostly lower as investors look ahead to a flood of global earnings reports, including from U.S. companies known as the “Magnificent Seven.” Shares fell Thursday in Tokyo and Seoul, while being little changed in Shanghai. Trading was closed in Australia for a national holiday, Anzac Day. U.S.

People walk in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Thursday, April 25, 2024, in Tokyo. People look at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Thursday, April 25, 2024, in Tokyo. A person looks at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Thursday, April 25, 2024, in Tokyo. People walk in front of an electronic stock board showing U.S.

In currency trading, the U.S. dollar rose to 155.67 Japanese yen from 155.31 yen. The euro cost $1.0715, up from $1.0697. Tesla is the first of the group of stocks among the Magnificent Seven to report its results for the start of 2024. The focus is on the small group of stocks because they drove most of the U.S. stock market’s gain last year, and they’ll need to perform to justify their high prices.

“A strong earnings season looks likely to help restore market confidence,” according to Solita Marcelli, chief investment officer Americas at UBS Global Wealth Management.

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