Asian markets traded mixed on Monday, despite Friday’s respectable US jobs date. The Nikkei slumped .8% to 10599, as exporters pulled back from their recent gains. The Kospi and Hang Seng ended little changed, and the Shanghai Composite advanced .4% to 2285, lifted by coal producers.
European shares retreated, weighed down by utility stocks, which dropped 1.6% after Deutsche bank downgraded the sector. The FTSE shed .4% to 6065, and the DAX dropped .6% to 7733. Over the weekend, the Basel Committee, which supervises banking standards, agreed to give banks 4 more years to shore up their cash reserves.
US stocks declined as well. The Dow skidded 51 points to 13384, the S&P 500 dipped .3% to 1462, and the Nasdaq eased .1% to 3099.
Netflix shares rallied 3.4% after announcing a licensing agreement with Warner Brothers Television Group.
Currencies
The US dollar slipped on Monday against the world’s major currencies. The euro advanced .4% to 1.3115, the pound rose .3% to 1.6116, and the yen climbed .5% to 87.75.
Economic Outlook
Earnings season will begin on Tuesday, with reports due from Alcoa, Apollo Group, Monsanto, and Global Payments.
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Equities Pull Back After Last Week’s Surge
Published 01/08/2013, 05:04 AM
Updated 05/14/2017, 06:45 AM
Equities Pull Back After Last Week’s Surge
Equities
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