Global markets update: US stocks gain as investors await inflation data
US stocks gained on Tuesday as investors awaited inflation data and the Federal Reserve’s monetary policy meet next week.
The S&P 500 rose 10.06 points, or 0.2%, at 4,283.85. The Dow Jones Industrial Average edged up by 10.42, or less than 0.1%, at 33,573.28. The Nasdaq composite gained 46.99, or 0.4%, at 13,276.42.
Shares of Coinbase Global tumbled 12.1% on Tuesday after the Securities and Exchange Commission charged Coinbase with operating its trading platform as an unregistered national securities exchange, broker and clearing agency.
Gitlab shares soared 31.2% after the software development platform gave a revenue forecast for the fiscal year that topped analysts’ expectations.
In the bond market, the yield on the 10-year treasury slipped to 3.68% from 3.69% late Monday.
Currencies
The US dollar rose to 139.66 Japanese yen from 139.63. The euro fell to $1.0693 from $1.0715.
Canada
Canada’s main stock index rose on Tuesday to its highest closing level in two weeks, helped by gains for the technology sector.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 123.98 points, or 0.6%, at 20,055.60.
Europe
European stocks rose on Tuesday, led by Novo Nordisk shares.
The pan-European STOXX 600 index closed 0.4% up.
Danish healthcare giant Novo Nordisk jumped 4.1%. The company is in talks to buy a controlling stake in medical device designer Biocorp.
Britain’s FTSE 100 rose 0.4% at 7,209. Germany’s DAX added 0.2% at 15,992.44. France’s CAC 40 gained 0.1% at 7,209.
Asia
Asian shares were choppy on Tuesday.
Hong Kong’s Hang Seng index fell 0.1% at 19,099.28. China’s Shanghai Composite dropped 1.2% at 3,195.34.
Japan’s Nikkei 225 rose 0.9% at 32,506.78.
Australia’s S&P/ASX 200 index dropped 1.2% at 7,129.60. New Zealand’s benchmark S&P/NZX 50 index fell 0.1% at 11,864.12.
Markets in Taipei, Bangkok and Jakarta were in the green.
Energy prices
Brent crude for August delivery fell 42 cents to $76.29 a barrel on Tuesday. US crude oil benchmark for July delivery fell 41 cents to $71.74 a barrel.
Natural gas for July delivery rose 1 cent to $2.26 per 1,000 cubic feet.
Bullion
Gold for August delivery rose $7.20 to $1,981.50 an ounce. Silver for July delivery rose 3 cents to $23.67 an ounce.
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Updated: 07 Jun 2023, 02:37 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.