Global markets: US stocks end mixed ahead of inflation data
2 min read . Updated: 12 Apr 2023, 02:25 AM IST
Premium- The S&P 500 ends flat, the Dow Jones Industrial Average adds 0.29%, the Nasdaq Composite falls 0.43%
US stocks closed mixed on Tuesday ahead of the inflation data. The US consumer price index (CPI) for March will be released on Wednesday followed by wholesale prices on Thursday.
The S&P 500 ended flat. The Dow Jones Industrial Average added 0.29% at 33,684.79. The Nasdaq Composite fell 0.43% at 12,031.88.
The inflation data will help investors gauge near-term trajectory for interest rates.
The International Monetary Fund (IMF) on Tuesday slightly cut its global growth forecast to 2.8%. The IMF raised the outlook for the US economy to 1.6%, up 0.2 percentage points.
US treasury yields edged higher on Tuesday. The yield on 10-year treasury climbed to 3.44% from 3.42% Monday. The 2-year yield rose to 4.05% from 4.01%.
Cryptocurrency
Shares of Coinbase Global, Riot Platforms and Marathon Digital Holdings surged between 6% and 17% as bitcoin touched a new 10-month high at $30,438.
Canada
Energy and gold mining stocks lifted Canadian shares to a five-week closing high on Tuesday. The Toronto Stock Exchange's S&P/TSX composite index rose 0.7% at 20,421.85.
European stocks
European stocks rose on Tuesday, with the pan-European STOXX 600 index gaining 0.6%.
France’s CAC 40 gained 0.9% at 7,390.28. Germany’s DAX rose 0.4% at 15,655.17. Britain’s FTSE 100: added 0.6% at 7,785.72.
Asian markets
Asian markets ended mostly higher.
Hong Kong’s Hang Seng index edged higher 0.8% at 20,485.24. In China, Shanghai Composite index slipped 0.1% at 3,313.57.
Japan’s Nikkei 225 rose 1.1% at 27,923.37.
South Korean equities rose to 10-month high after the Bank of Korea left interest rates unchanged. The benchmark Kospi climbed 1.42% at 2,547.86.
Australian shares jumped over 1%, with the S&P/ASX 200 index rising 1.3% at 7,309.90. New Zealand's benchmark S&P/NZX 50 index closed flat.
Oil prices
Brent crude for June delivery rose $1.43 to $85.61 a barrel. Benchmark US crude oil for May delivery surged $1.79 to $81.53 a barrel on Tuesday.
Bullion
Gold for June delivery gained $15.20 to $2,019.00 an ounce. Silver for May delivery rose 27 cents to $25.19 an ounce.