Global markets today: Equities in US, Europe rise on robust earnings
World markets today: Global stocks rose on Tuesday on positive quarterly earnings, even as investors remained cautioned amid the ongoing war in the Middle East.
The MSCI all-world index added 0.6%.
In recent weeks, the global bond yields have surged higher because of concerns that the central banks will not cut interest rates this year.
Wall Street
The US stocks gained on Tuesday after Verizon and General Electric reported stronger profits than expected.
The S&P 500 rose 0.7% in afternoon trading. The Dow Jones Industrial Average was up 227 points, or 0.7%, and the Nasdaq composite was 0.8% higher.
The yield on the 10-year treasury was last at 4.87%, up 4 basis points on the day. On Monday, it had crossed the 5% mark.
Investors are awaiting the US third quarter GDP data on Thursday and the US PCE price index data on Friday that could provide some clues to the Federal Reserve’s monetary policy.
The US central bank will hold
its policy meeting next week (October 31 to November 1).
Currencies
The US dollar rose to 149.93 Japanese yen from 149.58. The euro fell to $1.0589 from $1.0675.
Energy prices
The US crude oil benchmark for December delivery fell $1.75 to $83.74 a barrel on Tuesday. Brent crude for December delivery fell $1.76 to $88.07 a barrel.
Natural gas for November delivery rose 4 cents to $2.97 per 1,000 cubic feet.
Europe
European shares pared early losses to end higher on Tuesday.
The pan-European STOXX 600 index ended 0.4% higher, led by miners.
On Thursday, the European Central Bank will announce its decision on interest rates.
Britain’s FTSE 100 added 0.5% at 7,389.70. Germany’s DAX rose 0.2% at 14,879.94. France’s CAC 40 gained 0.6% at 6,893.65.
Asia
In Asian stock markets, Hong Kong’s Hang Seng Index edged down 1.1% at 16,991.53. Japan’s Nikkei 225 added 0.2% at 31,062.35. China’s Shanghai Composite rose 0.8% at 2,962.24.
Australia’s S&P/ASX 200 index ended 0.2% higher at 6,856.9 points. New Zealand’s benchmark S&P/NZX 50 index fell 0.3% to end the session at 10,960.6 points.
Bullion
Gold for December delivery fell $1.70 to $1,986.10 an ounce. Silver for December delivery fell 9 cents to $23.12 an ounce.
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Updated: 25 Oct 2023, 12:44 AM IST
