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
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.