Scoreboard: Blue chip bonus

Strong earnings from blue chip companies in the US helped keep Wall Street in the black as fears over rising tensions in Ukraine pummelled European markets.

US equities managed to finish in the black overnight, but it was whippy and I wouldn’t say there was a lot of conviction buying last night. Positive earnings reports from large blue chips like Johnson & Johnson and Coca-Cola obviously helped give stocks a boost, but the offer came on hard following reports that Ukrainian forces were acting to secure key facilities in eastern Ukraine. That there were also rumours of Russian soldiers filtering though the border obviously didn’t help, although none of this news has been substantiated. The rumours of rising tensions hurt though and some European stocks closed deep in the red, while US stocks hit a decent trough in intraday trade.


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