AAL

Overseas Trading: Oil, Data Pressure European Stocks

Outside of Japan, stocks in Asia and Europe are struggling

Jul 19, 2016 at 8:41 AM
facebook X logo linkedin


Asian stock markets moved mostly lower today, though Japan's Nikkei outperformed to extend its win streak to six sessions. Boosting the Tokyo-based index was a weaker yen, which overshadowed steep post-M&A losses from heavyweight SoftBank. At the close, the Nikkei was up 1.4%. 

Elsewhere, stocks edged lower, amid a likely round of profit-taking following a few strong sessions, and as traders panned sliding oil prices. China's Shanghai Composite closed 0.2% lower, Hong Kong's Hang Seng dropped 0.6%, and South Korea's Kospi was down 0.2%. 

Stocks are also in the red in Europe at midday. Besides sinking crude oil futures and declining mining stocks, a key reading on economic sentiment out of Germany dipped to its lowest level since November 2012. Meanwhile, disappointing earnings from several high-profile companies -- such as Rio Tinto and Ericsson -- are also weighing on stocks. Germany's DAX was last seen 1% lower, while France's CAC 40 is down 0.8%. London's FTSE 100, meanwhile, is off 0.2%, following reports that showed inflation rose by a more-than-expected 0.5% in June and sales of new homes plunged in the second quarter.


 Overseas Trading July 19

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.