Global indices gain as oil prices and bond yields decline

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

Global indices gain as oil prices and bond yields decline

Highlights

  • 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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