Global markets today: Equities in US, Europe rise on robust earnings

The MSCI all-world index added 0.6%.

In recent weeks, the global bond yields have surged higher because of concerns that the central banks will not cut interest rates this year.

Wall Street

The US stocks gained on Tuesday after Verizon and General Electric reported stronger profits than expected.

The S&P 500 rose 0.7% in afternoon trading. The Dow Jones Industrial Average was up 227 points, or 0.7%, and the Nasdaq composite was 0.8% higher.

The yield on the 10-year treasury was last at 4.87%, up 4 basis points on the day. On Monday, it had crossed the 5% mark.

Investors are awaiting the US third quarter GDP data on Thursday and the US PCE price index data on Friday that could provide some clues to the Federal Reserve’s monetary policy.

The US central bank will hold 

its policy meeting next week (October 31 to November 1). 

Europe

European shares pared early losses to end higher on Tuesday.

The pan-European STOXX 600 index ended 0.4% higher, led by miners.

On Thursday, the European Central Bank will announce its decision on interest rates.

Britain’s FTSE 100 added 0.5% at 7,389.70. Germany’s DAX rose 0.2% at 14,879.94. France’s CAC 40 gained 0.6% at 6,893.65.

Asia

In Asian stock markets, Hong Kong’s Hang Seng Index edged down 1.1% at 16,991.53. Japan’s Nikkei 225 added 0.2% at 31,062.35. China’s Shanghai Composite rose 0.8% at 2,962.24. 

Australia’s S&P/ASX 200 index ended 0.2% higher at 6,856.9 points. New Zealand’s benchmark S&P/NZX 50 index fell 0.3% to end the session at 10,960.6 points.

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Updated: 25 Oct 2023, 12:44 AM IST