World markets today: US stocks gain ahead of key inflation data, Nvidia rises 1.8%

US stock indices gained on Monday ahead of key inflation and economic data due this week.

The personal consumption expenditures price index (PCE) for January due on Thursday could offer clues on potential interest rate cuts from the US Federal Reserve.

At 09:35 a.m. ET, the Dow Jones Industrial Average was up 68.69 points, or 0.18 per cent, at 39,200.22, the S&P 500 was up 8.40 points, or 0.17 per cent, at 5,097.20, and the Nasdaq Composite was up 22.55 points, or 0.14 per cent, at 16,019.38.

At the opening bell, the Dow Jones Industrial Average rose 13.26 points, or 0.03 per cent, to 39,144.79. The S&P 500 opened higher by 4.20 points, or 0.08 per cent, at 5,093.00, while the Nasdaq Composite gained 17.63 points, or 0.11 per cent, to 16,014.45.

Nvidia stock continued its rise with an advance of 1.8 per cent after hitting $2 trillion in market value for the first time on Friday.

Micron Technology rose 5.0 per cent.

Berkshire Hathaway rose 2.6 per cent after posting its second straight record annual operating profit.

Domino’s Pizza climbed 8.4 per cent on beating Wall Street estimates for quarterly same-store sales.

The yield on the 10-year Treasury was at 4.25 per cent, where it was late Friday.

Major European stock markets mostly retreated on Monday.

Britain’s FTSE 100 fell 0.3 per cent at 7,687.44 points. France’s CAC 40 fell 0.4 per cent at 7,938.08. Germany’s DAX lost 0.1 per cent at 17,408.27.

Euro Stoxx 50 edged down 0.2 per cent at 4,863.03.

In Asian stock markets, Hong Kong’s Hang Seng Index edged down 0.5 per cent at 16,634.74. China’s Shanghai Composite fell 0.9 per cent at 2,977.02. 

Japan’s Nikkei 225 rose 0.3 per cent at 39,233.71. 

Oil prices slipped on Monday, extending losses on market views that higher than expected inflation could delay cuts to high interest rates.

Brent crude futures fell 46 cents, or 0.6 per cent, to $81.16 a barrel by 1210 GMT. US West Texas Intermediate crude futures (WTI) were down 40 cents, or 0.5 per cent, at $76.09. 

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Published: 26 Feb 2024, 08:46 PM IST

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