Stock indices consolidate amid disappointing corporate results from big US retailers
|'Despite a falling US dollar and yields stock indices pause their recent ascents amid disappointing corporate earnings', says Axel Rudolph, Senior Market Analyst at online trading platform IG.
Equity traders take money off the table
“Ahead of Nvidia's after-hours earnings, Wednesday's FOMC minutes and the prolonged Thanksgiving weekend, traders have cashed in some of their last three-week strong equity gains as corporate results from big US retailers disappoint. Fresh 2010-lows in US existing home sales and the lowest US national activity in seven months also dampened the mood. Most European equity indices also slipped into the red as earnings season is coming to an end."
The exception is Argentina's stock market
“The Argentine stock index bucked the trend and soared by over 20% as investors anticipate a Peso devaluation following the election of the country's new president Javier Milei over the weekend."
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