Global markets update: US stocks advance on upbeat earnings

The S&P 500 rose 12.82, or 0.3%, to 4,567.46. The Dow Jones Industrial Average gained 26.83, or 0.1%, to 35,438.07.The Nasdaq composite climbed 85.69, or 0.6%, to 14,144.56. Shares of General Electric rallied 6.3% after it reported stronger profit for the latest quarter.

Shares of General Electric rallied 6.3% after it reported stronger profit for the latest quarter.

3M rose 5.3% after the maker of Scotch-Brite and Post-It raised its forecast for profits for the full year.

The 10-year treasury yield was holding at 3.88%. The 2-year treasury yield slipped to 4.88% from 4.92%.

The US dollar fell to 141.04 Japanese yen from 141.44 . The euro fell to $1.1045 from $1.1071.

Europe

European shares gained on Tuesday, led by miners.

The pan-European STOXX 600 index rose 0.5%.

FTSE 100 rose 0.2% at 7,691.80. DAX added 0.1% at 16,211.59. CAC 40 fell 0.2% at 7,415.45.

Miners jumped 4.24% as metal prices climbed on hopes of improving demand.

Unilever jumped 4.5% as the consumer giant beat underlying sales growth forecasts.

Shares of Adidas gained 3.7% as the sportswear giant forecast smaller operating loss this year.

Logitech jumped 12.3% after raising its outlook.

Asia

Asian stocks were mostly higher on Tuesday as China’s Politburo pledged stimulus to support the stuttering economy.

Hong Kong’s Hang Seng Index surged 4.1% at 19,434.40. China’s Shanghai Composite added 2.1% at 3,231.52.

Nikkei 225 fell 0.1% at 32,682.51.

Energy prices

US crude oil benchmark for September delivery rose 89 cents to $79.63 a barrel on Tuesday. Brent crude for September delivery rose 90 cents to $83.64 a barrel.

Natural gas for August delivery rose 4 cents to $2.73 per 1,000 cubic feet.

Bullion

Gold for August delivery rose $1.50 to $1,963.70 an ounce. Silver for September delivery rose 24 cents to $24.82 an ounce.

Updated: 26 Jul 2023, 03:05 AM IST