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Business News/ Markets / Stock Markets/  Global markets today: Wall Street, European stocks gain ahead of Fed meet
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Global markets today: Wall Street, European stocks gain ahead of Fed meet

World markets today: The US stocks rallied more than 1%, the pan-European STOXX 600 gained 0.4%

The yield on the 10-year treasury rose to 4.89% from 4.84% late Friday. (REUTERS)Premium
The yield on the 10-year treasury rose to 4.89% from 4.84% late Friday. (REUTERS)

World markets today: In the global markets, stock indices in the US and the Europe gained as the sliding oil prices lifted hopes that the US Federal Reserve and the Bank of England will leave interest rates unchanged on Wednesday and Thursday, respectively.

This week, investors will also keep a close eye on policy announcement from Japan’s central bank and China factory data.

Wall Street

The US stocks rallied more than 1% on Monday ahead of jobs data and the Federal Reserve's two-day monetary policy meeting.

The S&P 500 gained 49.19 points, or 1.19%, to end at 4,166.56 points. The Nasdaq Composite gained 143.74 points, or 1.14%, at 12,786.75. The Dow Jones Industrial Average rose 512.02 points, or 1.58%, at 32,927.51.

On Tuesday, the Federal Open Markets Committee (FOMC) will convene for a two-day meeting.

The yield on the 10-year treasury rose to 4.89% from 4.84% late Friday.

McDonald's earnings - McDonald's Corp. reported better-than-expected sales in the third quarter ended September  30, boosted by popular promotions. Its net income — which included a $26 million charge for a restructuring announced last spring —jumped 17% to $2.3 billion.

Onsemi earnings - The chipmaker forecast weak fourth quarter revenue on slowing demand for electric vehicles. Its third quarter revenue of $2.18 billion inched past expectations of $2.15 billion.

Currencies 

The US dollar fell at 149.00 Japanese yen from 149.52. The euro rose at $1.0618 from $1.0567.

Energy prices 

US crude oil benchmark for December delivery fell $3.23 to $82.31 a barrel on Monday. Brent crude for December delivery lost $3.03 at $87.45 a barrel.

Natural gas for Decemberdelivery fell 13 cents at $3.35 per 1,000 cubic feet.

Europe

European shares rose on Monday, boosted by a drop in bond yields.

The pan-European STOXX 600 gained 0.4% after falling more than 4% in the past two weeks. The healthcare sector rose 1.1%.

Britain’s FTSE 100 edged up 0.5% at 7,327.39.

Germany’s DAX rose 0.2% at 14,716.54.

France’s CAC 40 added 0.4% at 6,825.07.

HSBC earnings – Shares of HSBC fell 2.3% after Europe's largest bank doubled its third quarter profit. 

Its pre-tax profit more than doubled to $7.7 billion. 

Asia

In Asian stock markets, Hong Kong’s Hang Seng index ended flat at 17,406.36. China's Shanghai Compositeadded 0.1% at 3,021.55. 

Japan’s Nikkei 225 fell 1% at 30,696.96.

Australia’s S&P/ASX 200 index fell 0.8% to close at 6,772.9. New Zealand’s benchmark S&P/NZX 50 index fell 0.2% to close at 10,741.57. 

Bullion 

Gold for December delivery rose $7.10 at $2,005.60 an ounce. Silver for December delivery added 51 cents at $23.40 an ounce.

 

 

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Published: 31 Oct 2023, 01:48 AM IST
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