Global markets update: US stocks gain, Tesla rallies
US stocks gained on Monday in a holiday-shortened session. The markets were lifted by a rally in Tesla and strength in bank shares.
The Dow Jones Industrial Average rose 10.87 points, or 0.03%, at 34,418.47. The S&P 500 gained 5.21 points, or 0.12%, at 4,455.59. The Nasdaq Composite added 28.85 points, or 0.21%, at 13,816.77.
A report from the Institute for Supply Management on Monday showed manufacturing contracted in June for an eighth straight month.
A jobs report for June is slated to be released on Friday.
Trading in the US stock market ended at 1:00 pm Eastern time and will remain closed Tuesday in observance of Independence Day.
Tesla stock climbed 6.9% after the company said over the weekend that the number of vehicles it delivered during the spring surged by 83% from a year earlier.
Bond market
The yield on the 10-year treasury rose to 3.86% from 3.84% late Friday. The two-year yield also pared losses to rise to 4.92% from 4.90%.
Currencies
The US dollar rose to 144.72 Japanese yen from 144.30. The euro rose to $1.0913 from $1.0911.
Europe
European stocks ended mostly lower on Monday.
The pan-European STOXX 600 index dipped 0.2%, paring gains of some 0.4%.
Britain’s FTSE 100 fell less than 0.1% at 7,527.26. Germany’s DAX fell 0.4% at 16,081.04 France’s CAC 40 lost 0.2% at 7,386.70.
British drugmaker AstraZeneca plunged 8% after analysts said the benefits from its experimental lung cancer drug may not be as pronounced as hoped.
Asia
Asian stock markets gained on Monday.
Hong Kong’s Hang Seng index climbed 2.1% at 19,306.59. China’s Shanghai Composite rose 1.3% at 3,243.97.
Japan’s Nikkei 225 added 1.7% at 33,753.33.
Australia’s S&P/ASX 200 index advanced 0.6% to 7,246.1 points. New Zealand’s benchmark S&P/NZX 50 index closed flat at 11,916.87 points.
Energy prices
Crude oil prices rose on Monday after Saudi Arabia and Russia further cut crude output. Brent crude for September delivery fell 76 cents to $74.65 a barrel on Monday. US crude oil benchmark for August delivery fell 85 cents to $69.79 a barrel. Natural gas for August delivery fell 9 cents to $2.71 per 1,000 cubic feet.
Bullion
Gold for August delivery rose 10 cents to $1,929.50 an ounce. Silver for September delivery rose 9 cents to $23.11 an ounce.
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Updated: 04 Jul 2023, 02:31 AM IST
