Global markets update: US stocks up marginally as investors await inflation dataPersonal FinanceGlobal markets update: US stocks up marginally as investors await inflation data

Global markets update: US stocks up marginally as investors await inflation data


US stocks edged higher marginally on Monday as investors awaited inflation data, due to be released on Wednesday.

The S&P 500 gained 3.89 points, or 0.09%, at 4,402.84. The Dow Jones Industrial Average rose 167.86 points, or 0.5%, at 33,902.74. The Nasdaq Composite added 4.30 points, or 0.03%, at 13,665.01.

Second quarter earnings are due to kick off this week with reports from some big US banks.

Intel shares surged 2.6% and Qualcomm gained 1.3% after US treasury secretary Janet Yellen said over the weekend that meetings with senior Chinese officials were direct and productive. 

The 10-year treasury yield slipped to 4.00% from 4.06% late Friday. The 2-year treasury yield fell to 4.86% from 4.95%.

Currencies

The US dollar fell to 141.32 Japanese yen from 142.14. The euro rose to $1.0999 from $1.0967.

Europe

European shares rose on Monday, led by gains in the travel & leisure sector stocks.

The pan-European STOXX 600 index ended 0.2% higher. European travel & leisure stocks gained 1.3%.

Britain’s FTSE 100 gained 0.2% at 7,273.79. Germany’s DAX rose 0.5% at 15,673.16. France’s CAC 40 added 0.5% at 7,143.69.

Shares of Bayer rose 1.6% following a report that the German giant could spin off and list its CropScience unit.

Wihlborgs Fastigheter shares fell 7.8% after the Swedish real estate firm reported its first-half results.

Asia

Asian stock markets mostly climbed on Monday.

Hong Kong’s Hang Seng index rose 0.6% at 18,479.72. China’s Shanghai Composite added 0.2% at 3,203.70. 

Japan’s  ikkei 225 fell 0.6% at 32,189.73.

China’s consumer inflation flattened in June and producer prices sank, indicating the world’s number two economy continuing to struggle.

After a year-long probe Ant Group has been hit with a near $1 billion penalty for illegal acts, while Tenpay was ordered to pay more than $400 million.

Australia’s S&P/ASX 200 index closed 0.5% lower at 7,004. In New Zealand, the benchmark S&P/NZX 50 index fell 0.6% to 11,912.73.

Energy prices

Brent crude for September delivery fell 78 cents to $77.69 a barrel on Monday. US crude oil benchmark for August delivery fell 87 cents to $72.99 a barrel.

Natural gas for August delivery rose 9 cents to $2.67 per 1,000 cubic feet.

Bullion

Gold for August delivery fell $1.50 to $1,931 an ounce. Silver for September delivery rose 6 cents to $23.35 an ounce. 

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Updated: 11 Jul 2023, 02:09 AM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




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