Global Stocks Mixed as Investors Eye Earnings Today

The global stock market was a mixed bag on Thursday, with investor attention focused on the imminent deluge of international earnings reports. Among these are updates from U.S. tech giants collectively known as the "Magnificent Seven," which includes Apple, Microsoft, Amazon, Alphabet (Google), Facebook (Meta Platforms), Netflix, and Tesla.

In Europe's early trading session, France's CAC 40 decreased by 0.3% to 8,067.62 points, while Germany's DAX index dipped 0.4% to reach 18,008.84 points. On the other hand, Britain’s FTSE100 rose by roughly 0.7%, sitting at approximately 8,098.24 points.

Across America, however, shares were set for a slight decline, with Dow futures down by about 0.3% at around 38,577 and S&P 500 futures dropping off slightly more at around half a percent to hit roughly 5,081.

Asian markets showed mixed results too; Japan’s Nikkei225 saw a significant decrease of over two percent, ending up at approximately 37,628 while South Korea’s Kospi also dropped significantly by just under two percent, declining to 2,629 after rounding off.
 
On the contrary, Hong Kong’s Hang Seng Index managed an increase of half a point, rising up to 17,285 along with China’s Shanghai Composite, which gained about three tenths of one percentage point, climbing up to 3053.

Australian markets remained closed due to national holiday observances for Anzac Day.

Investors are keenly awaiting news from The Bank of Japan, which began its two-day monetary policy meeting today amidst concerns surrounding an exceptionally weak yen value that has been trading lately near its lowest level in nearly three-and-a-half decades—something Tan Jing Yi from Mizuho Bank described as “the agitated elephant in the room.”

Despite this weakness providing benefits for Japanese exporters via increased overseas earnings values, it has conversely caused import prices to rise. As a result, market speculation is on the rise that Japan may intervene in order to bolster the yen’s value.

Chris Turner from ING Economics suggested that while many had expected an intervention due to dollar trading above 155 yen levels, current conditions were not sufficient for such action. He added, "The sufficiency has to come from market conditions, and one can argue we are not there yet."

Tesla will be leading among the Magnificent Seven in reporting its quarterly results as investors look forward to seeing if these tech giants continue their performance, which largely drove U.S. stock market gains last year.

Investors hope for profit growth extending beyond this group of companies due mainly to a resilient U.S. economy. However, they would need substantial profits if they intended their share prices to increase, considering interest rates are unlikely to offer much assistance.

In early energy trading on Thursday, benchmark US crude oil was up by 38 cents at $83.19 per barrel, while Brent crude saw an increment of 43 cents, taking it up to around $88.45 per barrel.