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%.


The US dollar fell to 141.32 Japanese yen from 142.14. The euro rose to $1.0999 from $1.0967.


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.


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.


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

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