Stocks Slip as Earnings Roll In, Metals Retreat

Stocks began the week on the back foot as investors weighed earnings results against lofty expectations and prepared for key policy meetings from some of the world’s biggest central banks. Metals fell on continued concern over trade and China’s economy.

Miners and food and beverage makers were among the biggest decliners in the Stoxx Europe 600 Index, while equity markets in Tokyo and Sydney fell and futures on the S&P 500, Dow and Nasdaq all pointed to a softer open. Brewer Heineken retreated after reporting lower-than-forecast earnings and saying its profitability will drop. Copper slid, with the LMEX Index of six industrial metals heading for its worst month in two years. The yen steadied and Japan’s benchmark 10-year bond yield erased an advance as the Bank of Japan offered to buy an unlimited amount of bonds for the third time in a week. The dollar was flat as U.S. Treasury yields rose.

Central-bank policy decisions and a slew of earnings reports, including from Apple Inc., are set to dominate moves in financial markets this week. Investors will focus on whether the BOJ will fine tune its policy and look for any indications the Federal Reserve is shying away from two more interest-rate hikes before the end of this year.

The Stoxx Europe 600 Index decreased 0.3 percent as of 9:17 a.m. London time, the biggest dip in almost three weeks.

Futures on the S&P 500 Index fell 0.2 percent to the lowest in a week.

The MSCI All-Country World Index declined 0.1 percent.

The MSCI Emerging Market Index dipped 0.3 percent, the first retreat in a week.

The Bloomberg Commodity Index gained 0.1 percent.

West Texas Intermediate crude climbed 0.7 percent to $69.17 a barrel.

Stocks Slip as Earnings Roll In, Metals Retreat, Bloomberg, Jul 30