Global markets today: US stocks rise, yields up, oil falls

The MSCI’s gauge of stocks across the globe gained 0.68%.

Global investors are also turning their attention to corporate earnings as companies begin to report third quarter results.

Israeli forces kept up their bombardment on Gaza on Monday after diplomatic efforts for a ceasefire to allow foreign nationals to leave and aid to be brought into the besieged Palestinian region failed.

Wall Street

US stocks and treasury yields surged on Monday as investors look forward to third quarter earnings.

The Dow Jones Industrial Average rose 302.53 points, or 0.9%, at 33,972.82. The S&P 500 gained 44.49 points, or 1.03%, at 4,372.27. The Nasdaq Composite added 160.61 points, or 1.2%, at 13,567.84. 

The yield on the 10-year treasury rose at 4.72% from 4.62% late Friday.

Currencies

The US dollar rose at 149.54 Japanese yen from 149.50. The euro gained at $1.0554 from $1.0511.

Europe

European shares closed higher on Monday, boosted by gains in financial and mining stocks.

The pan-European STOXX 600 closed 0.2% higher with miners and retail stocks leading sectoral gains.

The Euro STOXX volatility index hit an eight-week high earlier in the session.

Britain’s FTSE 100 edged up 0.4% at 7,630.63. Germany’s DAX added 0.3% at 15,237.99. France’s CAC 40 gained 0.3% at 7,022.19.

Poland’s WIG20 index rallied 5.3%.

The mining index gained

1.8% as prices of base metals were lifted by hopes of stronger demand from China.

Financials added 1%.

Asia

Asian markets fell on Middle East conflict worries.

Hong Kong’s Hang Seng index edged down 1% at 17,640.36. China’s Shanghai Composite lost 0.5% at 3,073.81.

Japan’s Nikkei 225 fell 2% at 31,659.03.

Australia’s S&P/ASX 200 index fell 0.4% at 7026.500 at the close of trade. New Zealand’s benchmark S&P/NZX 50 index fell 0.7% to finish the session at 11,185.08.

Energy prices 

The US crude oil benchmark for November delivery fell $1.03 at $86.66 a barrel Monday. Brent crude for December delivery lost $1.24 at $89.65 a barrel.

Natural gas for November delivery fell 13 cents at $3.11 per 1,000 cubic feet.

Bullion 

Gold for December delivery shed $7.20 at $1,934.30 an ounce. Silver for December delivery lost 13 cents at $22.77 an ounce. 

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Updated: 17 Oct 2023, 01:21 AM IST