Global markets update: US shares edge higher on strong earnings

The S&P 500 rose 6.73 points, or 0.1%, at 4,588.96. The Dow Jones Industrial Average climbed 100.24, or 0.3%, at 35,559.53. The Nasdaq composite added 29.37, or 0.2%, at 13,346.02.

Shares of financial services provider SoFi Technologies rallied 19.9% after reporting better-than-expected quarterly revenue.

Adobe surged 3.3% after Morgan Stanley raised its rating to “overweight” on the company. 

Shares of ON Semiconductor soared 2.5% after reporting stronger profit for the June quarter.

The mattress company Tempur Sealy International’s stock shed 3% after it said it discovered a cybersecurity event last week, which pushed it to shut down some of its technology systems.

Bond market

The yield on the 10-year treasury fell to 3.95% from 3.96% late Friday.

Currencies

The US dollar rose to 142.29 Japanese yen from 141.00. The euro fell to $1.0999 from $1.1023. Europe

European stocks gained on Monday, led by rise in healthcare shares and on easing euro zone inflation in July. 

The pan-European benchmark STOXX 600 rose 0.1%.

Britain’s FTSE 100 rose less than 0.1% at 7,699.41. Germany’s DAX fell 0.1% at 16,446.83. France’s CAC 40 added 0.3% at 7,497.78.

In July, the index is up 2%.

The euro zone consumer prices grew by 5.3% in July as compared to 5.5% in June, data showed.

Among the healthcare stocks, Novo Nordisk rallied 3.4% as it launched its blockbuster weight-loss drug Wegovy in Germany.

Among the sectoral gains, the energy sector rose 1.2% as Harbour Energy shares strengthened on UK’s plans to grant new North Sea licences.

Asia 

Asian equities gained on Monday.

Hong Kong’s Hang Seng index added 0.8% at 20,078.94. China’s Shanghai Composite up 0.5% at 3,291.04. 

Japan’s Nikkei 225 climbed

1.3% at 33,172.22.

Australia’s S&P/ASX 200 index rose 0.1% at 7,410.4. New Zealand’s benchmark S&P/NZX 50 index fell 0.9% at 12,056.15.

Energy prices

Brent crude for September delivery gained 57 cents to $85.56 a barrel on Monday. US crude oil benchmark for September delivery rose $1.22 to $81.80 a barrel.

Natural gas for September delivery fell 1 cent to $2.63 per 1,000 cubic feet.

Bullion

Gold for December delivery surged $9.30 to $2,009.20 an ounce. Silver for September delivery added 47 cents to $24.97 an ounce.

Updated: 01 Aug 2023, 02:37 AM IST