US stocks closed mixed on Monday as investors braced for mega tech earnings and economic data.
The S&P 500 inched up 0.09% at 4,137.13. The Dow Jones Industrial Average rose 0.21% at 33,878.36, while Nasdaq Composite fell 0.28% at 12,038.56, dragged down by Tesla.
Tesla, closed 1.53% down, raised its 2023 capital expenditure forecast to ramp up output.
Investors’ focus this week is on first quarter results from Amazon, Facebook owner Meta, Google-parent Alphabet and Microsoft.
Economic data on housing, industrial output and first quarter GDP are also to be released this week.
Investors expect Federal Reserve to raise interest rates at next week’s meeting.
The yield on the 10-year US treasury fell 6 basis points to end at around 3.51%.
Currencies
The US dollar dipped against major currencies on Monday. The dollar rose to 134.27 Japanese yen from 134.21. The euro gained to $1.1046 from $1.0977.
Canada
The Toronto Stock Exchange’s S&P/TSX composite index ended down 16.41 points, or 0.1%, at 20,676.74.
European markets
European markets ended flat on Monday ahead of major earnings this week. The pan-European STOXX 600 index finished at 468.97.
In Britain, FTSE 100 ended flat at 7,912.20 points. Germany’s DAX fell 0.1% at 15,863.95. France’s CAC 40 closed flat at 7,573.86.
Luxury retailer LVMH became first European company to cross a market capitalization of $500 billion.
In Europe, earnings from Barclays Plc, Santander, Deutsche Bank AG, UBS Group AG, Nestle SA, Reckitt and Unilever Plc are due this week.
Asia
Asian stocks dipped on Monday with MSCI’s broadest index of Asia-Pacific shares, outside Japan, closed 0.36% lower.
Hong Kong’s Hang Seng index fell 0.6% at 19,959.94. In China, Shanghai Composite declined 0.8% at 3,275.41. South Korean benchmark Kospi ended down 0.82% at 2,523.51.
Japan’s Nikkei 225 added 0.1% at 28,593.52.
Australian shares closed marginally weaker with the S&P/ASX 200 index closing 0.1% down at 7,322.0 points. New Zealand’s benchmark S&P/NZX 50 index gained 0.8% at 12,026.39.
Crude oil
Oil prices soared over 1% on Monday on hopes that holiday travel in China would boost fuel demand.
Brent crude settled $1.07 higher, or 1.3%, at $82.73 a barrel. US West Texas Intermediate crude ended up 89 cents, or 1.1%, at $78.76.
Bullion
Gold for June delivery surged $9.30 to $1,999.80 an ounce. Silver for May delivery added 25 cents to 25.31 an ounce.
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