Global markets: US stocks marginally up ahead of major earnings

The S&P 500 gained 0.33% at 4,151.40 points. The Dow Jones Industrial Average added 0.30% at 33,987.36. The Nasdaq Composite rose 0.27% at 12,156.45.

US treasury yields rose on Monday. The 10-year treasury yield surged to 3.59% from 3.52% Friday. The 2-year yield climbed to 4.19% from 4.10%.

The US dollar strengthened against other major currencies on prospects of more interest rate tightening by the US Fed. 

The euro fell at $1.0930 from $1.0992 on Friday. The British pound slipped at $1.2376 from $1.2413. The dollar rose to 134.41 Japanese yen from 133.80 yen.

Google’s parent firm Alphabet Inc shares plunged as much as 4% following a report by the New York Times that South Korea’s Samsung Electronics was considering replacing Google with Microsoft’s Bing as the default search engine on its devices. The Alphabet stock fell to $104.90 on Monday.

First quarter results of Bank of America, Morgan Stanley, Johnson & Johnson, Netflix, Tesla, Ericsson and Nokia are due this week.

Investors are also keenly awaiting the Chinese GDP data on Tuesday for clues on the country’s economic recovery.

Canada

Canadian stock market soared on Monday, with the Toronto Stock Exchange’s S&P/TSX composite index rising 0.3% at 20,641.97.

European shares

European shares were mixed on Monday. The pan-European STOXX 600 index closed flat, while the blue-chip STOXX 50 index edged lower 0.1%.

The semiconductor stocks in Europe fell after a report by Taiwan’s Economic Daily News said that Taiwan Semiconductor Manufacturing Company (TSMC) had lowered its costs outlook for 2023.

Britain’s FTSE 100 rose 0.1% at 7,879.51. France’s CAC 40 fell 0.3% at 7,498.18. Germany’s DAX slipped 0.1% at 15,789.53.

Asian Markets

Asian markets surged on Monday.

Hong Kong’s Hang Seng index advanced 1.7% at 20,782.45. In China, Shanghai Composite index gained 1.4% at 3,385.61.  Japan’s Nikkei 225 added 0.1% at 28,514.78. 

Australian stocks finished slightly higher on Monday with the S&P/ASX 200 index gaining 0.3% at 7,381.50. New Zealand’s benchmark S&P/NZX 50 index rose 0.5% at 11,936.15.

Crude oil

Oil prices slipped on Monday. Brent crude for June delivery fell $1.55 to $84.76 a barrel. The benchmark US crude oil for May delivery lost $1.69 to $80.83 a barrel.

Bullion

Gold for June delivery fell $8.80 to $2,007 an ounce. Silver for May delivery fell 37 cents to $25.09 an ounce. 

Cryptocurrencies

• Bitcoin tumbled 2.7% to $29,540.55. Ether dipped 1.8% to $2,084.8.