Global markets update: US stocks fall marginally on surge in yields
jobless benefits increased slightly last week, while layoffs dropped to an 11-month low in July, labor department report showed. Jobs report for July is due on Friday. A separate report showed that the US services sector slowed in July.
The yield on the 10-year treasury gained to 4.18% from 4.09% late Wednesday. Shares of Qualcomm tumbled 8.2% after it reported weaker revenue than expected. Clorox climbed 9% after it reported stronger profit and revenue than expected.
The US dollar fell to 142.71 Japanese yen from 143.28. The euro fell to $1.0942 from $1.0943. European stocks declined on Thursday, on disappointing earnings reports.
The pan-European STOXX 600 index fell 0.6%. Britain’s FTSE 100 fell 0.4% at 7,529.16. Germany’s DAX was down 0.8% at 15,893.38.
France’s CAC 40 lost 0.7% at 7,260.53. Shares of German chipmaker Infineon sank 9.3% after it forecast fourth quarter revenue would come in below market expectations. Deutsche Lufthansa fell 5.5% despite its upbeat forecast for travel demand.
Shares of the world's largest brewer Anheuser-Busch InBev climbed 1.3% after it reported higher-than-expected quarterly earnings. In Asia, Hong Kong’s Hang Seng index dipped 0.5% at 19,420.87. China’s Shanghai Composite added 0.6% at 3,280.46.
Japan’s Nikkei 225 fell 1.7% at 32,159.28. Australia’s S&P/ASX 200 index dropped 0.6% at 7,311.8. New Zealand's benchmark S&P/NZX 50 index fell 0.2% at 11,936.6 points.
Brent crude for October delivery rose $1.94 to $85.14 a barrel on Thursday. US crude oil benchmark for September delivery added $2.06 to $81.55 a barrel. Natural gas for September delivery rose 9 cents to $2.57 per 1,000 cubic feet.
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