Stocks Likely To Come Under Pressure In Early Trading – U.S. Commentary – NASDAQ.com
The threat of seizures forced Fernandez to stop using her presidential plane and instead fly on private jets. Restoring Argentina’s sense of pride and sovereignty after the 2001-2002 economic collapse has been a central goal of Fernandez and her predecessor and late husband, Nestor Kirchner. Argentina has made efforts to return to global credit markets that have shunned it since the 2001 default. The government paid its debt to the International Monetary Fund and agreed in May with the Paris Club of creditor nations on a plan to begin repaying $9.7 billion in debts unpaid since 2001.
stocks are sharply lower following weak corporate earnings. Exxon Mobil and Whole Foods slumped. Argentina’s stock market plunged 7 percent after the South American nation defaulted on its debt for the second time in 13 years. European markets also fell as evidence mounted that the standoff between the West and Russia over Ukraine is hurting the region’s economy. The Dow Jones industrial average dropped 206 points, or 1.2 percent, to 16,675 as of noon Eastern time Thursday.
Stocks fall sharply in US as investors respond to weak earnings; Whole Foods, Exxon Mobil sink | Star Tribune
Exxon Mobil Exxon Mobil and MasterCard MasterCard were both trading in the red despite solid earnings reports Thursday morning. Yum Brands Yum Brands , which warned that China sales at its KFC online and Pizza Hut chains are suffering following concerns about a chicken supplier, dropped more than 5%. Even the biggest U.S. IPO this year was caught up in the turmoil.
Stocks Run Red As Argentina Default, Portugal Bank Blow Add To Concerns – Forbes
Economists expect the Chicago business barometer to inch up to 63.0 in July from 62.6 in June, with a reading above 50 indicating growth. The downward momentum for the markets also reflects lingering concerns about developments overseas, as news that Argentina missed a debt payment has generated some negative sentiment. Traders are also digesting the latest batch of earnings news, including disappointing results from companies such as Kraft Foods ( KRFT ) and Time Warner Cable ( TWC ). Oil giant Exxon Mobil ( XOM ) also released its second quarter results before the start of trading, reporting earnings and revenues that exceeded analyst estimates.