Stock gains after battling for direction

U.S stock market opened lower today on trade concern. However, Microsoft (NASDAQ: MSFT) results enough to overturn the bearish open. Currently, Dow Jones Industrial Averages up 35.37 points (+0.14%), Nasdaq composite up 13.56 points (+0.17%), S&P 500 up 2.41 points (+0.09%).

Trade uncertainties resurge again after President Trump vow to impose tax over $505 billion of Chinese goods. The President also tweeted accusation on China, European Union and others of manipulating currencies and interest-rate. Immediately after the tweet, U.S dollar index tumbled sharply below its weekly opening level.

Aside from trade, President Trump also mentioned his unhappiness toward The Fed rate-hike plans.

Notable Earnings & Corporate reports

Microsoft Inc (NASDAQ: MSFT) reported earnings per share of $1.13 vs. $1.08 expectation. Revenue comes out at $30.09 billion vs. $29.21 billion expectation.

Skechers USA Inc (NYSE: SKX) traded lower 21.92% after the company reported miss in earnings. Earnings per share come out at $0.29 vs. $0.40 expectation. Revenue comes out at $1.13 inline with expectation.

Schlumberger (NYSE: SLB) down 0.4% currently on a revenue miss. Earnings result come out better than expected at $0.43 vs. $0.42. Revenue comes out at $8.30 billion vs. analyst expectation $8.36 billion.

Other markets

Gold climbed $5.10 (+0.42%) to $1,229.10, Crude oil up $0.79 (+1.14%) to $70.25.

Asian stock market closed mostly higher. Nikkei down 66.80 points (-0.29%) to 22,697.88, Shanghai Composite up 56.61 points (+2.04%) to 2,829.15, Australia ASX 200 up 23.20 points (+0.37%) to 6,285.90.

European stock market tumbled on Trump comments. DAX Germany down 0.98%, FTSE UK down 0.07%, and Euro STOXX 600 down 0.15%.