Stocks Steady Ahead of Central Bank Busy Week

World stocks and the dollar were broadly steady on Monday as a busy week of central bank meetings and company updates began, while Japanese government bonds sold off before possible monetary policy tweaks.

Disappointing updates from U.S. tech heavyweights overshadowed solid results elsewhere, helping knock European shares off six-week highs, while a MSCI index that tracks shares in 47 countries .MIWD00000PUS pared losses to trade flat.

“Quarterly results continue to be more than good overall, but markets appear to be particularly sensitive to the sporadic negative updates, especially from tech stocks,” JCI Capital strategist and fund manager Alessandro Balsotti said.

“Meanwhile before the August lull – although that’s not always the case for markets – we’re bracing for an intense week, packed with central bank meetings and macro data,” he said.

via Reuters

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