Hersh P. Sayta | Senior News Analyst
Updated October 27, 2021 | 08:39 IST
A summary of the latest developments in global markets, commodities, bonds and cryptocurrency.
Global indices gain as oil prices and bond yields decline
- US indices rise for a second straight day this week, with the Dow Jones and S&P 500 closing at record highs. The Nasdaq also moved closer to its record close.
- European indices also closed in the green, with investors keeping a close eye on the evolution of earnings. Asian indices are in the red at the start of the session today.
- The dollar index gained for a second straight day yesterday as gold fell. The London Metal Index closed slightly lower. Bond yields and oil also cooled slightly.
Bombay: The 3 US benchmarks closed slightly higher, with the Dow Jones and S&P closing at record highs. The Dow Jones gained 0.04% on its 3rd consecutive day of gains and 5th consecutive positive day in the last 6. The S & P500 was up 0.18% and gained 9 of the last 10 trading sessions. The Nasdaq has gained 6 basis points, going in the green in 3 of the last 4 trading sessions.
European stocks closed higher as investors watched earnings. The German DAX closed more than 1% higher while the FTSE100, CAC40 and Stoxx 600 closed up more than 3/4 percent on Tuesday.
The main Asian indices started the day in the red. The Nikkei is down around 0.5% after closing 2% higher yesterday. Kospi is also down 0.5% in early trades today with ASX200 down 0.2% in early trades. SGX Nifty Futures broke its 5-day losing streak to close 1.06% higher yesterday and 0.2% lower today.
LMEX closed nearly 1% lower as aluminum and copper prices cooled. However, iron ore prices rose almost 2%. Oil prices have retreated slightly to below $ 84.5 per barrel while Brent is at $ 86.22 per barrel. Gold also fell slightly on a firm dollar; Gold at $ 1,793 an ounce early today.
The dollar index rose 0.14% in trade yesterday and is near the flat line, with a negative bias, down 2 basis points in early trade today. Treasury yields fall as investors wait for the Fed’s next move. The 10-year US Treasury yield is 1.629%. Bitcoin has fallen 3% and is now below the $ 61,000 mark.
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