A person walks by the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 19, 2022. REUTERS/Andrew Kelly
NEW YORK, June 27 (Reuters) – Stocks on global indexes mostly edged higher in volatile trading on Monday, extending last week's sharp gains, while oil prices and Treasury yields rose.
Oil was up following last week's rout, with investors still weighing worries over an economic slowdown against concern over lost Russian supply amid sanctions related to the conflict in Ukraine. read more
Investors have been hoping oil's slide from three-month peaks hit earlier in June could ease overall inflation concerns and allow the U.S. Federal Reserve to tighten policy less aggressively than initially feared.
Still, data on Monday showed new orders for U.S.-made capital goods and shipments increased solidly in May, pointing to sustained strength in business spending on equipment in the second quarter. read more
Stocks moved between gains and losses in early trading on Wall Street, and the Nasdaq was nearly flat in late morning trading. read more
"We had a nice rally last week, so I think we're seeing a little bit of profit-taking this morning," said Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas.
The Dow Jones Industrial Average (.DJI) rose 83.01 points, or 0.26%, to 31,583.69, the S&P 500 (.SPX) gained 12.74 points, or 0.33%, to 3,924.48 and the Nasdaq Composite (.IXIC) added 3.95 points, or 0.03%, to 11,611.57.
The pan-European STOXX 600 index (.STOXX) rose 0.61% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.73%.
A further easing of COVID-19 restrictions in China helped to support global indexes.
Treasury yields climbed following the capital and durable goods orders and as pending home sales surprised to the upside from the previous month.
The yield on the benchmark 10-year note rose 4.6 basis points to 3.170% and the two-year's yield, which typically heralds rate expectations, gained 2.2 basis points to 3.079%.
U.S. crude recently rose 1.54% to $109.28 per barrel and Brent was at $114.68, up 1.38% on the day. read more
In foreign exchange, the U.S. dollar edged lower versus its major rivals as investors weighed expectations on inflation and rate hikes. read more
The dollar index fell 0.298%, with the euro up 0.5% to $1.0607.
Also, Russia's rouble weakened in the interbank market as Russia headed for its first sovereign default since the Bolshevik revolution a century ago. read more
Cryptocurrencies stumbled. Bitcoin last fell 1.32% to $20,751.76.
Spot gold dropped 0.3% to $1,821.59 an ounce.
Our Standards: The Thomson Reuters Trust Principles.
Russia may have defaulted for the first time on foreign bonds since the Bolsheviks refused to pay on a vast debt pile after the 1917 Revolution, but its $1.8 trillion economy is showing no sign of sinking just yet.
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