Global markets: US stocks mixed, investors await inflation data
US stocks reversed losses and closed mixed on Monday as investors are awaiting the US inflation data to be released on Wednesday to gauge the near-term trajectory for interest rates.
After the strong jobs data last week, the expectations have risen that the US Federal Reserve will hike interest rates in May.
The S&P 500 rose 0.09% at 4,108.66 points. The Dow Jones Industrial Average gained 0.31% at 33,583.72. The Nasdaq Composite fell 0.05% at 12,081.86.
The US dollar rose on hopes of another rate hike. The US currency surged to 133.65 against Japanese yen from 132.27, and against euro to 0.9209 from 0.9167.
Bullion
Gold prices fell below $2,000 in the day as US dollar rose. Gold for June delivery fell $22.60 to $2,003.80 an ounce. Silver for May delivery fell 18 cents to $24.91 an ounce.
Canada
Canadian shares gained on Monday, led by a rally in healthcare and energy stocks. The Toronto Stock Exchange’s S&P/TSX composite index added 0.4% at 20,196.69.
Asian shares
Asian shares were also mixed on Monday with MSCI’s broadest index of Asia-Pacific shares, outside Japan, slipping 0.05%.
South Korean shares finished at a near eight-month high on Monday, led by a chipmakers and battery makers. The benchmark Kospi rose 0.87% at 2,512.08.
Japan’s Nikkei 225 gained 0.4% at 27,633.66. In China, Shanghai Composite index dropped 0.4% at 3,315.36.
Oil prices
Oil prices declined on Monday on concerns that interest rate hikes could curb demand. Brent crude for June delivery slipped 94 cents to $84.18 a barrel. Benchmark US crude oil for May delivery fell 96 cents to $79.74 a barrel Monday.
Last week, crude had surged more than 6% after OPEC+ announced the production cuts starting in May.
Stock markets were shut in Europe, Australia and Hong Kong for Easter.
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