S&P 500 At New All Time High, Global Markets Mixed, Peak Earnings At Hand

The U.S. Futures Are Flat After Hitting All-Time Highs

美国期货在创下历史新高后持平

The U.S. futures indicated a flat to a slightly higher open on Wednesday morning. Traders are cautious after the indices hit new all-time highs on Tuesday and so many earnings reports at hand. The Dow Jones Industrial Average was in the lead with gains near 0.20%. There was no economic data today.

美国期货周三早盘开盘略微走高。交易商在周二指数触及新的历史高位并且手头有如此多的盈利报告后保持谨慎。道琼斯工业平均指数领涨，收益率接近0.20％。今天没有经济数据。

Todays early action was impacted by reports from Caterpillar and Boeing, both of which were better than expected. Caterpillar beat on the top and bottom lines and provided upbeat guidance. Boeing says the 737 Max problems are going to hurt the bottom line but not as much as analysts were predicting. If these trends continue the market may be able to produce a net positive earnings growth figure but it is still early in the season.

今天的早期行动受到卡特彼勒和波音公司报告的影响，两者都好于预期。卡特彼勒击败了顶线和底线并提供了乐观的指导。波音表示，737 Max问题将损害利润，但不会像分析师预测的那样多。如果这些趋势继续下去，市场可能会产生净正盈利增长数据，但仍处于该季节的早期阶段。

Afterhours action will be impacted by a number of reports from key S&P 500 names. These include but are not limited to Facebook, Microsoft, PayPal, Tesla, and Visa. PayPal and Visa should both easily surpass expectations. As payment processors, they are uniquely poised to benefit from labor and consumer trends. Microsoft is also expected to surpass consensus estimates. The company has been shifting to a cloud-based business model and so far the results have been good. Tesla and Facebook are a different story. Both of these tech giants are in the midst of scandal and controversy that will affect their performance.

下班后的行动将受到来自标准普尔500指数的关键名称。这些包括但不限于Facebook，Microsoft，PayPal，Tesla和Visa。 PayPal和Visa都应该轻松超越预期。作为支付处理商，他们可以从劳动力和消费者趋势中获益。预计微软也将超过市场普遍预期。该公司已转向基于云的业务模式，到目前为止，结果一直很好。特斯拉和Facebook是一个不同的故事。这两家技术巨头都处于丑闻和争议之中，这将影响他们的业绩。

Global Markets Remain Cautious With Earnings In Focus

全球市场仍以谨慎收益为重点

Global equity markets remain cautious in Wednesday trading despite the U.S. new highs. In the EU the DAX was the only major market to advance, posting a gain of 0.65%, while both the CAC and FTSE declined. The FTSE led with a loss of -0.50%, the CAC followed at -0.25% during midday trading.

尽管美国创出新高，全球股市仍在周三交易中保持谨慎。在欧盟，DAX是唯一上涨的主要市场，涨幅为0.65％，而CAC和富时指数均下跌。英国富时指数下跌-0.50％，CAC在午盘交易中跟随-0.25％。

Autos were among the weakest performers. Shares of top auto stocks all fell about -1.0% after Nissan issued a guidance warning. The company cut its full-year profit forecast to down -45% and a near ten-year low. In other news, shares of Credit Suisse advanced 2% after it beat revenue and earnings consensus estimates. Shares of Wirecard led the market though, gaining 8% after Softbank announced it had acquired an 8% stake in the company.

汽车是表现最差的。在日产发布指引警告后，顶级汽车股票均下跌约-1.0％。该公司将其全年盈利预测下调至-45％和近十年来的低点。一世其他消息方面，瑞士信贷（Credit Suisse）股价上涨2％，此前该公司股价均超过收入和盈利预期Wirecard的股票领涨市场，在软银宣布收购该公司8％股权后上涨8％。

Australia Advances 1%, Hits Ten-Year High

澳大利亚上涨1％，触及十年高位

Asian markets were mixed but led by Australia. The Australian ASX gained 1% to hit a new 10-year high on rising oil prices and RBA outlook. The Australian economy is sensitive to commodity prices so oil trading at a five-month high and rising is a good thing. Regarding the RBA, labor and inflation trends suggest the central bank will be forced to cut rates to stimulate activity.

亚洲市场喜忧参半，但由澳大利亚领导。由于油价上涨和澳大利亚央行展望，澳大利亚ASX指数上涨1％，触及新的10年高位。澳大利亚经济对大宗商品价格敏感，因此石油交易处于五个月高位且上涨是一件好事。关于澳联储，劳工和通胀趋势表明央行将被迫降息以刺激经济活动。

The Shanghai Composite was the only other major index to post a gain on Wednesday and that only 0.09%. The Korean Kospi led declining indices with a loss of -0.88%. The Hong Kong Hang Seng fell -0.53% and the Japanese Nikkei shed -0.27%.

上证综合指数是周三唯一一个获利增长的主要指数那只有0.09％。韩国Kospi指数下跌，指数下跌-0.88％。香港恒生指数下跌-0.53％，日本日经指数下跌-0.27％。