- Wall Street stocks mostly lower
- China’s growth in 2022 is one of the worst in almost 50 years
- Investors focus on dlr/yen ahead of BOJ decision this week
NEW YORK, Jan 17 (Portal) – Wall Street stocks were mostly lower on Tuesday after disappointing quarterly results from Goldman Sachs and others, while the dollar weakened against the Japanese yen amid expectations of a possible change in policy at the Bank of Japan would.
A global stock index has changed little.
The BOJ is expected to make a key policy decision on Wednesday after a two-day session.
The dollar was last down 0.2% against the Japanese yen to 128.25, with investors bracing for strong moves as the BOJ closes its session.
“If the BOJ decides to simply streamline its operations, we could see a rebound in the dollar/yen ratio,” said Joe Perry, senior market analyst at FOREX.com and City Index in New York.
In Treasuries, longer-dated US yields rose as investors awaited the outcome of the BOJ meeting and braced themselves for the likelihood of an increase in corporate bond supply.
On Wall Street, where investor focus has shifted to quarterly earnings reports, the Dow and S&P 500 were lower, with shares in Goldman Sachs Group (GS.N) falling more than 6%.
Goldman reported a stronger-than-expected 69% fall in fourth-quarter earnings. Results from JPMorgan & Chase (JPM.N) and others kicked off the US fourth-quarter reporting period on Friday.
The Dow Jones Industrial Average (.DJI) fell 341.18 points, or 0.99%, to 33,961.43, the S&P 500 (.SPX) lost 3.51 points, or 0.09%, to 3,995.58 and the Nasdaq Composite (.IXIC) is up 6.06 points, down 0.05% to 11,085.22.
The pan-European STOXX 600 index (.STOXX) was up 0.40% and MSCI’s index of global equities (.MIWD00000PUS) was up 0.02%.
Sentiment was also weighed on by Chinese data, which showed the world’s second-largest economy grew 2.9% in the fourth quarter of last year, beating expectations but underscoring the toll Beijing’s strict “zero-COVID” policy is taking. -politics demanded.
At 3%, China’s growth for 2022 was well below the official target of around 5.5%. Excluding a 2.2% expansion after the first COVID-19 outbreak in 2020, it was the worst result in nearly half a century.
The BOJ is under pressure to change interest rate policy after a failed attempt to find some air.
Japanese 10-year government bond yields topped the BOJ’s policy ceiling for a third straight meeting on Tuesday, amid churning speculation that policymakers may tweak stimulus settings.
US 10-year benchmark yields rose 2 basis points to 3.54% and 2-year Treasury yields fell 3 basis points to 4.21%.
In the energy market, US crude was recently up 0.54% to $80.29 a barrel and Brent was at $85.85, up 1.65% on the day.
The No. 1 cryptocurrency, Bitcoin, is up about a quarter in January, up over 20% in the past week alone and on course for its best month since October 2021. Most recently it was almost unchanged that day.
Additional reporting by Gertrude Chavez-Dreyfuss in New York, Tom Wilson in London and Kane Wu in Hong Kong; Edited by Gerry Doyle, Neil Fullick, Alex Richardson, Chizu Nomiyama and Andrea Ricci
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