World markets today: US stocks rise on rate cut hopes
US stock indices rose on Tuesday on growing bets of early rate cuts by the Federal Reserve.
At 9:40 a.m. ET, the Dow Jones Industrial Average was up 43.65 points, or 0.12%, at 37,429.62. The S&P 500 was up 10.63 points, or 0.22%, at 4,765.26. The Nasdaq Composite was up 57.15 points, or 0.38%, at 15,050.12.
On Friday, US stocks closed higher after the Personal Consumption Expenditures (PCE) report showed that inflation continues to fall toward the Fed’s average annual 2% target.
The yield on the 10-year treasury rose slightly at 3.91% from 3.90% late Friday.
European stock markets were closed on Tuesday.
In Asia, Japan’s benchmark Nikkei 225 index edged higher by 0.16%, or 51.82 points, to end at 33,305.85.
In China, the Shanghai Composite index closed down 0.68%, or 19.93 points, to 2,898.88.
Stock markets in Australia, Hong Kong, Indonesia and New Zealand were closed on Tuesday for public holidays.
Oil prices soared more than 2% on Tuesday, boosted by Middle East strife.
Brent crude futures were up by $1.79, or 2.3%, at $80.86 a barrel by 1453 GMT and earlier reached $81.23, the highest since December 1. US West Texas Intermediate crude rose by $1.89, or 2.6%, to $75.45.
Last week, oil gained about 3% after Houthi attacks on ships disrupted global shipping.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 26 Dec 2023, 09:44 PM IST
