Global markets: US stocks rise ahead of key earnings

The S&P 500 closed at 4,151.40, up 0.33%. The Dow Jones Industrial Average closed up 0.30% at 33,987.36. The Nasdaq Composite closed up 0.27% at 12,156.45.

US Treasury yields rose on Monday. The 10-year Treasury yield rose to 3.59% from Friday’s 3.52%. The 2-year yield rose to 4.19% from 4.10%.

The US dollar strengthened on prospects of more US rate-tightening. The dollar rose to 134.41 JPY from 133.80 yen.

Shares of Google’s parent firm Alphabet Inc fell as much as 4% new York Times that South Korea’s Samsung Electronics was considering replacing Google as the default search engine on its devices with Microsoft’s Bing. Alphabet stock fell to $104.90 on Monday.

First quarter results from Bank of America, Morgan Stanley, Johnson & Johnson, Netflix, Tesla, Ericsson and Nokia are due this week.

Investors are also eagerly awaiting Chinese GDP data on Tuesday for clues on the country’s economic recovery.

european shares

European shares were mixed on Monday. The pan-European STOXX 600 index closed flat, while the blue-chip STOXX 50 index was down 0.1%.

Semiconductor shares fall in Europe after a report from Taiwan Economic Daily News Said that Taiwan Semiconductor Manufacturing Company (TSMC) has reduced its cost outlook for 2023.

Britain’s FTSE 100 rose 0.1% to close at 7,879.51. France’s CAC 40 closed down 0.3% at 7,498.18. Germany’s DAX closed down 0.1% at 15,789.53.

Asian market

Asian markets gained momentum on Monday.

Hong Kong’s Hang Seng index closed up 1.7% at 20,782.45.

In China, the Shanghai Composite index rose 1.4% to 3,385.61.

Japan’s Nikkei 225 closed up 0.1% at 28,514.78.

Australian shares ended Monday slightly higher at 7,381.50, with the S&P/ASX 200 index up 0.3%.

New Zealand’s benchmark S&P/NZX 50 index rose 0.5% to 11,936.15.

crude oil

Oil prices declined on Monday. Brent crude for delivery in June fell $1.55 to $84.76 a barrel. Benchmark US crude for May delivery fell $1.69 to $80.83 a barrel.

bullion

Gold for delivery in June fell by $8.80 to $2,007 an ounce. Silver for May delivery fell 37 cents to $25.09 an ounce.