NEW YORK, USA – A gauge of global stocks declined for a third straight day on Friday, April 21, as investors weighed the latest round of corporate earnings results, while longer-dated US yields were higher after a gauge of business activity climbed.Procter & Gamble
But the materials sector was weak, down 0.91%, as Albemarle plunged 10%, suffering its biggest one-day percentage drop in 14 months as the worst performing S&P 500 component, afterOf the 88 S&P 500 companies that have reported quarterly earnings through Friday, 76.1% have topped expectations, according to Refinitiv data, well above the 66% average since 1994 and slightly better than the 74% over the past four quarters.
The Dow Jones Industrial Average rose 22.34 points, or 0.07%, to 33,808.96, the S&P 500 gained 3.73 points, or 0.09%, to 4,133.52, and the Nasdaq Composite added 12.90 points, or 0.11%, to 12,072.46. Economic data in the eurozone also showed the region’s economic recovery unexpectedly gained steam this month, with HCOB’s flash Composite Purchasing Managers’ Index climbing to an 11-month high.The pan-European STOXX 600 index rose 0.34% and MSCI’s gauge of stocks across the globe shed 0.03%. MSCI’s index was on track for a third straight session of declines, its longest streak in nearly six weeks.
The 2-year US Treasury yield, which typically moves in step with interest rate expectations, was up 0.7 bps at 4.177%.