World stock markets were little changed on Thursday after U.S. data suggested slower growth in the first quarter and as corporate earnings forecasts disappointed, while the dollar fell to a two-week low against the euro.
In Europe, shares dipped as investors focused on political uncertainty in Italy, where Prime Minister Enrico Letta defied pressure to make way for the centre-left leader Matteo Renzi. [ID:nL5N0LI1I6]
U.S. bond prices rose after data showed U.S. retail sales fell unexpectedly in January and the number of Americans filing new claims for unemployment benefits rose last week. [ID:nL5N0LI3L6]
Wall Street stocks turned slightly higher after trading down at the open, pressured by a disappointing outlook from Cisco Systems. Cisco sharesfell 4.3 percent to $21.86.
"Essentially, it's a story of renewed concern that the recovery in the U.S. may be headed for a speed bump which may be more than weather-related," said Millan Mulraine, deputy head of research and strategy at TD Securities in New York.
In Italy, the stand-off threatens to pull apart a coalition government patched together after last year's deadlocked elections. That would further hamper efforts to turn around the country's sputtering economy.
Italian stocks <.FTMIB> were last down 0.2 percent after dropping as much as 1.2 percent earlier. European stocks snapped a week-long winning streak, with the pan-European FTSEurofirst 300 index down 0.2 percent. [.EU]
Shares of Swiss food group Nestlefell 1.6 percent after it said it may undershoot its long-term growth targets again this year.
The broad MSCI All-Country World Index was flat, cutting earlier losses, while MSCI's index of emerging market stocks was down 0.9 percent after rising on Wednesday.
Among still-jittery emerging markets, Ukraine's ongoing woes saw the hryvnia currency and its sovereign bonds tumble. In Nigeria, Africa's second-biggest economy, fresh government sackings left the nairanear a two-year low.
The Dow Jones industrial average <.DJI> rose 6.49 points or 0.04 percent, to 15,970.43, the S&P 500 <.SPX> gained 2.15 points or 0.12 percent, to 1,821.41 and the Nasdaq Composite <.IXIC> added 16.688 points or 0.4 percent, to 4,217.976. [.N]
BOND PRICES UP, DOLLAR DOWN
Treasury debt prices rose after two days of losses. Benchmark 10-year Treasurieswere up 6/32 in price to yield 2.74 percent. [US/]
The dollar index <.DXY> was down 0.4 percent at 80.494. It fell 0.53 percent against both the yen and euro, to 101.99 yen and $1.3660 respectively.
Oil prices were lower as well, though Brent's losses were limited by a report from the International Energy Agency (IEA), which said developed world inventories fell by 137 million barrels at the end of last year, for the steepest quarterly decline since 1999. [O/R]
Brent crudewas down 39 cents at $108.40 a barrel while U.S. crude oil was down 10 cents at $100.27.
Source: Reuters
In Europe, shares dipped as investors focused on political uncertainty in Italy, where Prime Minister Enrico Letta defied pressure to make way for the centre-left leader Matteo Renzi. [ID:nL5N0LI1I6]
U.S. bond prices rose after data showed U.S. retail sales fell unexpectedly in January and the number of Americans filing new claims for unemployment benefits rose last week. [ID:nL5N0LI3L6]
Wall Street stocks turned slightly higher after trading down at the open, pressured by a disappointing outlook from Cisco Systems. Cisco shares
"Essentially, it's a story of renewed concern that the recovery in the U.S. may be headed for a speed bump which may be more than weather-related," said Millan Mulraine, deputy head of research and strategy at TD Securities in New York.
In Italy, the stand-off threatens to pull apart a coalition government patched together after last year's deadlocked elections. That would further hamper efforts to turn around the country's sputtering economy.
Italian stocks <.FTMIB> were last down 0.2 percent after dropping as much as 1.2 percent earlier. European stocks snapped a week-long winning streak, with the pan-European FTSEurofirst 300 index down 0.2 percent. [.EU]
Shares of Swiss food group Nestle
The broad MSCI All-Country World Index was flat, cutting earlier losses, while MSCI's index of emerging market stocks was down 0.9 percent after rising on Wednesday.
Among still-jittery emerging markets, Ukraine's ongoing woes saw the hryvnia currency and its sovereign bonds tumble. In Nigeria, Africa's second-biggest economy, fresh government sackings left the naira
The Dow Jones industrial average <.DJI> rose 6.49 points or 0.04 percent, to 15,970.43, the S&P 500 <.SPX> gained 2.15 points or 0.12 percent, to 1,821.41 and the Nasdaq Composite <.IXIC> added 16.688 points or 0.4 percent, to 4,217.976. [.N]
BOND PRICES UP, DOLLAR DOWN
Treasury debt prices rose after two days of losses. Benchmark 10-year Treasuries
The dollar index <.DXY> was down 0.4 percent at 80.494. It fell 0.53 percent against both the yen and euro, to 101.99 yen and $1.3660 respectively.
Oil prices were lower as well, though Brent's losses were limited by a report from the International Energy Agency (IEA), which said developed world inventories fell by 137 million barrels at the end of last year, for the steepest quarterly decline since 1999. [O/R]
Brent crude
