Wall Street buoyed by bullish results from Microsoft and Alphabet
MSCI’s broad index of global stocks was steady, after Asian markets outside of Japan closed higher in line with rising Wall Street futures.
Microsoft’s Frankfurt-listed shares rose 6.6% after its quarterly results, issued after the U.S. stock market closed on Tuesday, beat analysts’ forecasts. A $70 billion share buyback announced by Google parent Alphabet also looked set to insulate the mood on Wall Street from banking sector troubles. “Banks around the world want to make sure their deposits will stay,” said Jason Da Silva, director of global investment strategy at Arbuthnot Latham in London.
U.S. ten-year yields fell nearly 12 basis points on Tuesday, their sharpest drop in more than a month, while steadying about 2 basis points higher at 3.398% on Wednesday morning in Europe. Germany’s ten-year yield slipped 2 bps to 2.375% after dropping 11 bps in the previous session.
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