Analyst View
The U.S bourse priced in positive earning reports at the commencement of trading on Monday to advance the share price of most equities on the bourses. More than half of the S&P 500 (280 companies) have posted their July-through-September numbers, and so far, the results are well ahead of forecasts.
The S&P 500 rose 8.96 points to 4,613.67 — another new high. The Dow added 94.28 points to 35,819.56, while the Nasdaq gained 97.53 points to 15,498.39. The Russell 2000 index of small companies slipped less than 0.1% to 2,297.19.
The latest data from the Commerce Department showed American consumer spending grew just 0.6% in September, a pandemic influenced inflationary pressure.
Asian stocks, the bourses advanced in Asia, with Tokyo’s benchmark up 2.5% after the ruling Liberal Democrats won a stronger than expected majority in an election Sunday. 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.
Commodities, the U.S benchmark 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.
Currencies -The U.S. dollar rose to 114.28 Japanese yen from 114.07 yen on Friday. The euro weakened to $1.1561 from $1.1566.
SOURCE: CNBC
IMAGE SOURCE: PIXABAY
