Global Markets: US stocks gain ahead of economic data

At 10:04 a.m. ET, the Dow Jones Industrial Average was up 10.14 points, or 0.03%, at 37,315.30, the S&P 500 was up 17.45 points, or 0.37%, at 4,736.64, and the Nasdaq Composite was up 54.51 points, or 0.37%, at 14,868.43.

The Dow Jones Industrial Average rose 34.98 points, or 0.12%, at the open to 37,352.14. The S&P 500 opened higher by 12.39 points, or 0.24%, at 4,731.58. The Nasdaq Composite gained 0.20 points, or 0.13%, to 14,835.02 at the opening bell. 

This week investors will keenly watch economic data that include personal consumption expenditures, revised GDP data, US current account data, home sales figures, and initial jobless claims. 

Personal consumption expenditures (PCE) index and core PCE index for November will be released on December 22.

On December 20, US current account data for the third quarter (Q3) and existing home sales numbers for November will be released.

December 21 will see the release of initial jobless claims and revised Q3 GDP (gross domestic product) data.

On Friday, Wall Street closed mixed. The Dow Jones Industrial Average rose 56.81 points, or 0.15%, to 37,305.16. The S&P 500 lost 0.36 points, or 0.01%, to 4,719.19. The Nasdaq Composite added 52.36 points, or 0.35%, to 14,813.92.

In Europe, the Stoxx 600 fell 0.1% as of 11:48 a.m. London time.

Britain’s FTSE 100 rose 0.4% at 7,606.02 points. France’s CAC 40 lost 0.4% at 7,566.73. Germany’s DAX edged down 0.3% at 16,704.39. 

In Asia, stock markets mostly fell on Monday following last week’s rally.

Hong Kong’s Hang Seng index lost 1% at 16,629.23.  China’s Shanghai Composite edged down 0.4% at 2,930.80.

Japan’s Nikkei 225 fell 0.6% at 32,758.98.

Gold prices rose on Monday on weak dollar.

Spot gold was up 0.3% at $2,023.47 per ounce, as of 0926 GMT. US gold futures rose 0.1% at $2,037.70.

Oil prices gained on Monday after BP said it is halting all voyages through the Red Sea.

Global benchmark Brent crude rose 0.9% to $77.24 a barrel, after bouncing between small gains and losses. BP said it is keeping the halt under ongoing review but that the welfare of the crew is the company’s priority.

BP’s decision comes after Iranian-backed Houthi militants stepped up attacks on vessels in the Red Sea. 


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Published: 18 Dec 2023, 09:44 PM IST

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