Buoyant company earnings enliven recession-focused markets – Kitco NEWS

LONDON, July 27 (Reuters) – Better-than-expected earnings from a raft of U.S. and European companies helped steady global stock markets on Wednesday, cutting through gloom caused by rising interest rates and the threat of an energy crunch due to Russian gas supply cuts.

Ten-year U.S. Treasury bond yields – the reference rate for the global cost of capital – held just off lows touched on Tuesday, while several bond market recession gauges continued to flash warnings that growth in the world’s largest economy is slowing, if not going into reverse.

Bond yields edged up with the U.S. Federal Reserve expected to deliver another big, 75 basis-point (bp) interest rate hike, while healthy second-quarter company earnings also weighed. read more .

Futures for the U.S. S&P 500 and Nasdaq and rose 1% to 1.5%, while a pan-European equity index was up 0.4% (.STOXX).

Wall Street sentiment was lifted by 4%-5% gains on shares in Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O), which…

Read Full Story: https://www.kitco.com/news/2022-07-27/Buoyant-company-earnings-enliven-recession-focused-markets.html

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