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Business News/ Markets / Stock Markets/  World markets today: US stocks edge up after slew of economic data
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World markets today: US stocks edge up after slew of economic data

As of 10:10 a.m. Eastern time, the Dow Jones was up 0.2 per cent, the S&P 500 was 0.2 per cent higher, the Nasdaq was 0.1 per cent higher

The 10-year yield climbed to 4.39 per cent from 4.36 per cent late on Tuesday. REUTERSPremium
The 10-year yield climbed to 4.39 per cent from 4.36 per cent late on Tuesday. REUTERS

US stocks edged up on Wednesday, after slew of economic data.

A report from the ADP Research Institute showed that employers accelerated their hiring in March.

A more comprehensive jobs data for March is due to be released on Friday.

ALSO READ: Less chance of market repeating FY24 returns this year, says Krishnan VR of Marcellus

 

In other economic data, a report showed that construction, retail and other US services businesses continued to grow last month.

As of 10:10 a.m. Eastern time, the Dow Jones Industrial Average was up 64 points, or 0.2 per cent, the S&P 500 was 0.2 per cent higher, and the Nasdaq Composite was 0.1 per cent higher.

At the opening bell, the Dow Jones Industrial Average fell 30.65 points, or 0.08 per cent, to 39,139.59. The S&P 500 opened lower by 11.44 points, or 0.22 per cent, at 5,194.37, while the Nasdaq Composite dropped 61.65 points, or 0.38 per cent, to 16,178.80.

The 10-year yield climbed to 4.39 per cent from 4.36 per cent late on Tuesday. The 2-year yield rose to 4.71 per cent from 4.70 per cent.

European stocks gained on Wednesday on the possibility that the European Central Bank (ECB) might cut interest rates before the Fed.

ALSO READ: More stock market news

Britain’s FTSE 100 edged down 0.3 per cent at 7,915.38. France’s CAC 40 rose 0.1 per cent at 8,141.20. Germany’s DAX added 0.2 per cent at 18,322.12.

The Euro Stoxx 50 rose 0.3 per cent at 5,058.17.

In Asian stock markets, Hong Kong’s Hang Seng Index fell 1.2 per cent at 16,725.10. China's Shanghai Composite lost 0.2 per cent at 3,069.30. Japan’s Nikkei 225 dropped 1.0 per cent at 39,451.85.

Crude oil prices gained on Wednesday on supply risks stemming from Ukrainian attacks on Russian refineries.

Brent crude futures for June rose 76 cents, or about 0.9 per cent, to $89.68 per barrel at 1346 GMT. US West Texas Intermediate crude futures for May gained 62 cents, or 0.7 per cent, to $85.77 a barrel.

Gold pared some gains after notching another record high on Wednesday. 

Spot gold was down 0.3 per cent at $2,272.79 per ounce, as of 1211 GMT after hitting a record high of $2,288.09 earlier in the session. US gold futures gained 0.5 per cent to $2,293.20.

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Published: 03 Apr 2024, 07:36 PM IST
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