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European Stocks Decline Amid Greece Debt Uncertainty, Germany Sees Growth Boost

Strategic Insights

— 1 min read

European stocks wavered on a mix of concerns about Greece's potential default on its sovereign debt and optimism over Germany's revised growth forecast, while the US dollar and crude oil prices edged lower. Amidst economic data releases, notable earnings and housing market reports are set to influence investor sentiment.

Key Takeaways:

  • European stocks were lower on uncertainty surrounding Greece's debt default, with concerns over market instability and potential contagion effects on the region's economic stability.
  • Germany raised its 2015 growth forecast to 1.8%, driven by strong consumer spending, which could boost investor confidence in the European economy.
  • The US dollar traded lower, while crude oil prices declined, potentially affecting commodity-sensitive stocks like Las Vegas Sands (LVS) and Exxon Mobil (not mentioned, but implied as a US oil company).
  • Notable earnings reports include those from Trifecta Stocks holdings EMC (EMC) and Boeing (BA), as well as Action Alerts PLUS holdings Facebook (FB) and Thermo Fischer (TMO).
  • Housing market data, such as MBA mortgage applications, FHFA housing price index, and existing home sales, are due to be released, which may impact investor sentiment toward housing and construction stocks.
  • Other reports, including those from Coca-Cola (KO), McDonald's (MCD), Abbott Laboratories (ABT), Qualcomm (QCOM), Sketchers (SKX), AT&T (T), eBay (EBAY), and Xilinx (XLNX), are also expected to influence the market.

Statistics:

  • Germany's 2015 growth forecast was revised to 1.8%, driven by strong consumer spending.
  • MBA mortgage applications for the week ending April 17 are expected to be released at 7 a.m. ET.
  • The FHFA housing price index for February is anticipated to show a 0.5% increase.
  • March existing home sales are forecast to reach an estimated 5.03 million.
  • Industrial production is expected to decline by 0.2% in the latest data release.
  • The Energy Department's energy inventories report is scheduled for release at 10:30 a.m.

Sources:

  • TheStreet (http://www.thestreet.com)
  • European stocks and macroeconomic data
  • Trifecta Stocks holdings EMC (EMC) and Boeing (BA)
  • Action Alerts PLUS holdings Facebook (FB) and Thermo Fischer (TMO)
  • MBAPortfolio.com
  • Nationwide News Service, Inc.

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