Global markets update: US stocks surge ahead of economic data

The S&P 500 rose 27.60 points, or 0.6%, at 4,433.31. The Dow Jones Industrial Average gained 213.08 points, or 0.6% at 34,559.98.The Nasdaq composite added 114.48 points, or 0.8%, at 13,705.13.

The US government will release its July report on job openings on Tuesday and its broader jobs report for August on Friday.

Shares of 3M jumped 5.2% after reports that the company had agreed to a $5.5 billion settlement over faulty earplugs. Boston Scientific rose 6% after giving investors an encouraging update on a study for a heart device.

The yield on the 10-year treasury fell at 4.21% from 4.24% late Friday. The yield on the 2-year treasury fell at 5.06% from 5.08% late Friday.

Currencies

The US dollar rose at 146.52 Japanese yen from 146.35 . It rose to $1.0811 to $1.0807 against the euro.

Canada

Canada’s stock index on Monday rose, led by gains in the materials and energy sectors.

The Toronto Stock Exchange’s S&P/TSX composite index added 189.39 points, or 0.95%, at 20,025.14.

Europe 

European stocks rallied on Monday, with the pan-European STOXX 600 closing 0.9% higher.

Technology stocks rose 1.7%.

Euro zone banks gained 1.6%.

Germany’s DAX added 1% at 15,792.61. France’sCAC 40 rose 1.3% at 7,324.71.

Britain’s FTSE 100 was closed for public holiday.

Asia

Asian markets on Monday mostly closed higher on China’s move to boost its equities markets by reducing tax on stock trades for the first time since 2008.

Hong Kong’s Hang Seng index rose 1% at 18,130.74. China’s Shanghai Composite added 1.1% at 3,098.64.

Japan’s Nikkei 225 edged up 1.7% at 32,169.99.

Australia’s S&P/ASX 200 index ended 0.6% higher at 7,159.8. New Zealand’s benchmark S&P/NZX 50 index closed 0.1% higher at 11,479.01 points.

Energy prices

Brent crude for October delivery fell 6 cents at $84.42 a barrel on Monday. The US crude oil benchmark for October delivery rose 27 cents at $80.10 a barrel.

Natural gas for September delivery rose 4 cents at $2.58 per 1,000 cubic feet.

Bullion

Gold for December delivery rose $6.90 at $1,946.80 an ounce. Silver for September delivery gained 2 cents at $24.25 an ounce.

Updated: 29 Aug 2023, 02:31 AM IST