Global corporate earnings growth is poised to accelerate this year as higher spending by U.S. consumers and Europe’s gradual rebound from a two-year recession help offset a slower economic expansion in China.
Stocks fell, pushing the Standard & Poor’s 500 Index to a third weekly loss, and Treasuries rose amid a slump in emerging-market currencies and weaker corporate earnings. Copper dropped for an eighth day, the longest streak since December 1998.
LVMH Moet Hennessy Louis Vuitton SA rose the most in more than three years in Paris trading after saying growth in fashion and leather-goods sales rebounded in the fourth quarter, boosting optimism for a turnaround.
LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, said growth in fashion and leather-goods sales rebounded in the fourth quarter, boosting optimism for a turnaround at its biggest brand.
While Fiat SpA Chief Executive Officer Sergio Marchionne, 61, got the spotlight for the New Year’s Day swoop to secure full control of Chrysler Group LLC, a reserved 37-year-old will ultimately determine whether that transatlantic combination succeeds.