Treasury yields, Foxconn, tech earnings - what's moving markets
Investing.com -- Rising U.S. Treasury yields continue to weigh on stock markets at the start of a week that includes the release of earnings from a number of tech giants. Crude slips back as aid enters Gaza, while Apple is under pressure as its main supplier, Foxconn, faces a tax probe in China.U.S. bond yields are on the rise again, with the yield on the benchmark 10-year Treasury back up to 4.
The major indices suffered a difficult week last week, with rising U.S. Treasury yields weighing heavily. The broad-basedAside from the rising yields and the uncertain situation in the Middle East, investors will be focusing on corporate results this week, with the earnings season ramping up as a slew of big tech titans are slated to report .
Overall, 17% of the companies in the S&P 500 have reported actual results for the third quarter, Factset reported on Friday. Of these companies, 73% have reported actual EPS above estimates, with, in aggregate, firms reporting earnings that are 6.6% above estimates. The public announcement of this audit comes with Foxconn founder Terry Gou seeking to be Taiwan's next president in January, and with Foxconn shifting some of its production lines from China to India.
Israel has so far held off launching a ground assault on the region, likely providing time to negotiate a release of more hostages as well as providing a window for diplomacy. Hamas released two U.S. hostages from Gaza late last week.
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Foxconn faces tax audit, land use probe - Chinese state mediaFoxconn faces tax audit, land use probe - Chinese state media
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Apple supplier Foxconn subjected to tax inspections by Chinese authoritiesChinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities.
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Apple supplier Foxconn subjected to tax inspections by Chinese authoritiesChinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities.
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Autoridades chinas registran oficinas de la empresa FoxconnFoxconn, una empresa Fortune 500 conocida mundialmente por fabricar iPhones para Apple, fue inspeccionada recientemente por parte de las autoridades fiscales chinas, según informes locales del domingo.
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