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Overnight Markets: US stocks little changed ahead of jobs report
by Himanshu Singh on May 02, 2014 at 04:15
Avon Products Inc. tumbled 10% to lead losses in the Standard & Poor’s 500 Index after earnings trailed analysts’ estimates by almost half. T-Mobile US Inc. rallied 8.1% after adding 1.3 million new monthly subscribers last quarter.
Sprint Corp. surged 2.7% after meeting with banks to make debt arrangements for a bid for T-Mobile.
In Asia, shares oscillated between gains and losses on Friday as investors weighed corporate earnings before the release of US non-farm payrolls today.The MSCI Asia Pacific Index added less than 0.1% to 138 as of 11 a.m. in Tokyo. Japan’s Topix index fell 0.2%. South Korea’s Kospi index slipped 0.1% and Australia’s S&P/ASX 200 Index was little changed, while New Zealand’s NZX 50 Index added 0.3%. Hong Kong’s Hang Seng Index gained 0.3% as it resumed trading following the May Day holiday. Markets in mainland China are closed for a holiday.
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