European stocks retreated from an 18-month high while Asian equities headed for the longest winning streak in more than three years as investors awaited the outcome of a Federal Reserve policy meeting. The won and South Korean shares closed higher even as North Korea fired a rocket. Oil climbed.
European Earnings 'Looking Pretty Good': Macklow-Smith
34:22 - European companies' profit margins are improving as a result of the weakening euro over the past 12 months, combined with declines in oil and commodity prices, low interest rates and reforms initiated by companies over the past five years, according to Stephen Macklow-Smith, head of European equity strategy as JPMorgan Asset Management. He described the earnings season as "looking pretty good" in an interview with Manus Cranny on Bloomberg's "The Pulse." (Source: Bloomberg)
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