Investors are watching for the giant banks to demonstrate how they benefit if interest rates remain higher than expected this yearHONG KONG — Wall Street veered into negative territory early Friday after several big banks issued mixed first-quarter earnings reports and trimmed guidance on the assumption that the Federal Reserve would cut interest rates.
In Europe at midday, London's FTSE 100 climbed 1.5% after a report showed that the country’s gross domestic product increased by 0.1% in February. “The resilience of Asian equities is noteworthy, especially considering the stronger U.S. dollar and China’s ongoing deflationary challenges,” Stephen Innes, managing partner at SPI Asset Management, said in a commentary.
In currency trading, the dollar inched back to 153.11 Japanese yen, while the euro cost $1.0650, down from $1.0725.
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