Global markets today: US stocks fall, yields rise after strong retail sales data

Strong retail sales data and better than expected earnings from Bank of America and Goldman Sachs have raised hopes that the US Federal Reserve may keep restrictive policies in place for longer period.

The Dow Jones Industrial Average fell 71.75 points, or 0.21%, at 33,912.79. The S&P 500 lost 9.29 points, or 0.21%, at 4,364.34. The Nasdaq Composite dropped 48.86 points, or 0.36%, at 13,519.13.

Investors were also monitorin the unfolding humanitarian crisis arising from the Israel-Hamas conflict.

US President Joe Biden is set to make a visit to Israel on Wednesday to show support for its war on Hamas.

The yield on the 10-year treasury climbed at 4.84% from 4.69% late Monday.

MSCI’s gauge of stocks across the globe gained 0.02%.

Currencies

The US dollar rose at 149.80 Japanese yen from 149.54. The euro surged at $1.0569 from $1.0554.

Europe

European stocks edged lower on Tuesday on concerns about risks stemming from the Middle East conflict.

The pan-European STOXX 600 index slipped 0.1%, while the blue chip index ended flat.

Britain’s FTSE 100 edged up 0.6% at 7,675.21. Germany’s DAX added 0.1% at 15,251.69. France’s CAC 40 rose 0.1% at 7,029.70.

Asia

In Asian stock markets, Hong Kong’s Hang Seng Index rose 0.8% at 17,773.34. China’s Shanghai Composite added 0.3% at 3,083.50. 

Japan’s Nikkei 225 edged up 1.2% at 32,040.29. 

Australia’s S&P/ASX 200 index climbed 0.42%. New Zealand’s benchmark S&P/NZX 50 index rose 0.1% to 11,199.62. 

Energy prices 

The US crude oil benchmark for November delivery was unchanged at $86.66 a barrel on Tuesday. Brent crude for December delivery added 25 cents at $89.90 a barrel.

Natural gas for November delivery lost 3 cents at $3.08 per 1,000 cubic feet.

Bullion 

Gold for December delivery added $1.40 at $1,935.70 an ounce. Silver for December delivery rose 25 cents at $23.02 an ounce. 

“Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!

Updated: 18 Oct 2023, 01:22 AM IST