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Business News/ Markets / Stock Markets/  World markets today: US stocks rise slightly as Treasury yields climb
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World markets today: US stocks rise slightly as Treasury yields climb

At 9:49 a.m. ET, the Dow Jones was up 0.19 per cent, the S&P 500 was up 0.02 per cent, the Nasdaq was up 0.09 per cent

The yield on the 10-year Treasury rose to its highest level since last November earlier in the session. The yield was last at 4.417 per cent. REUTERSPremium
The yield on the 10-year Treasury rose to its highest level since last November earlier in the session. The yield was last at 4.417 per cent. REUTERS

US stock indices rose slightly on Monday as oil prices retreated after a recent rally and Treasury yields surged to their highest level since last November.

At 9:49 a.m. ET, the Dow Jones Industrial Average was up 72.78 points, or 0.19 per cent, at 38,976.82, the S&P 500 was up 0.83 points, or 0.02 per cent, at 5,205.17, and the Nasdaq Composite was up 14.24 points, or 0.09 per cent, at 16,262.76.

At the opening bell, the Dow Jones Industrial Average rose 12.38 points, or 0.03 per cent, to 38,916.42. The S&P 500 opened higher by 7.03 points, or 0.14 per cent, at 5,211.37, while the Nasdaq Composite gained 36.66 points, or 0.23 per cent, to 16,285.18.

ALSO READ: Wall Street week ahead: Investors eye inflation data, Fed minutes

The yield on the 10-year Treasury rose to its highest level since last November earlier in the session. The yield was last at 4.417 per cent.

For clues on Fed’s future monetary policy, investors are awaiting the Consumer Price Index (CPI) data and FOMC minutes of March meeting, both due on Wednesday. 

Shares of Tesla rose 4.6 per cent after CEO Elon Musk said the company would unveil the Robotaxi on August 8. 

Cryptocurrency-related stocks climbed, tracking rising bitcoin prices. Coinbase Global, Marathon Digital and MicroStrategy rose between 8.2 per cent and 11.2 per cent.

US-traded shares of Taiwan Semiconductor Manufacturing Co. rose 1.8 per cent after the Biden administration pledged to provide up to $6.6 billion so that it can expand the facilities it is building in Arizona.

ALSO READ: Traders favour two Fed rate cuts in 2024 with the first expected by Sept

Crude oil prices edged lower on Monday, after Israel announced withdrawal of more soldiers from Gaza. Brent crude futures were down 16 cents, or 0.2  per cent, at $91.01 a barrel by 1335 GMT. US West Texas Intermediate crude was down 9 cents, or about 0.1 per cent, at $86.82. 

In Europe, Britain’s FTSE 100 rose 0.5 per cent at 7,947.89. France’s CAC 40 surged 1.0 per cent at 8,138.44. Germany’s DAX added 0.8 per cent at 18,319.26. 

The Euro Stoxx 50 edged up 0.7 per cent at 5,051.11.

In Asian stock markets, Hong Kong’s Hang Seng Index rose 0.1 per cent at 16,732.85. China's Shanghai Composite fell 0.7 per cent at 3,047.05.

Japan’s Nikkei 225 added 0.9 per cent at 39,347.04.

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Published: 08 Apr 2024, 07:22 PM IST
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