There is a lot of anticipation of an upward trend for the new week on the market, though the market closed the previous week on a positive note. The S&P 500 rose 8.96 points to 4,605.38 — another new high. The Dow added 89.08 points to 35,819.56, while the Nasdaq gained 50.27 points to 15,498.39. While the Russell 2000 index of small companies slipped less than 0.1% to 2,297.19.
Outside of earnings, investors were looking ahead to this week's meeting of the Federal Reserve as the central bank moves closer to trimming bond purchases that have helped keep interest rates low.
On Monday Asia stocks Tokyo’s benchmark up 2.5% after the ruling Liberal Democrats won a stronger than expected majority in an election Sunday. Shares have since rebounded amid signs Kishida's administration will likely continue the market-supporting policies of his predecessors Shinzo Abe and Yoshihide Suga.
Thus, Tokyo's Nikkei 225 index surged 716 points to 29,610.18, while the Kospi in Seoul gained 0.5% to 2,982.72. In Sydney, the S&P/ASX 200 picked up 0.8% to 7,378.50. The Shanghai Composite index edged 0.1% higher, to 3,552.35. Hong Kong's Hang Seng dropped 1% to 25,117.79 as investor concerns over financial risks for property developers added to worries over the economic outlook.
CommoditiesBenchmark U.S. crude oil fell 31 cents to $83.26 per barrel in electronic trading on the New York Mercantile Exchange. It gave up 24 cents to $83.57 per barrel on Friday. Brent crude, the basis for international pricing, lost 17 cents to $83.55 per barrel.
