In Asian Equity Markets stocks climbed in early trade on Tuesday after Wall Street hit record highs overnight, as investors awaited the second-quarter earnings season and a batch of economic data, including key U.S. inflation figures later in the day. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 percent. The index is down 3.1 percent so far this month. Australian stocks were up 0.49 percent, while Japan’s Nikkei stock index rose 0.79 percent. China’s blue-chip CSI300 index was down 0.1 percent, while Hong Kong’s Hang Seng index rose 0.65 percent.
In Currency Markets the dollar decreased on Tuesday, ahead of U.S. inflation data which traders think could offer clues about the timing of tapering and rate hikes. Against the euro the greenback inched a fraction lower during the Asia session to $1.1868, though that still has the dollar up about 2.2 percent on the common currency in a month. The Japanese currency last stood at 110.37 per dollar. The Swiss franc was steady at 0.9146 per dollar, close to a one-month high. The Australian dollar rose slightly to $0.7491 and sterling was up 0.1 percent at $1.3895.
In US Equity Markets main indexes rose on Monday, lifted by Tesla and bank stocks as investors eyed the start of the second-quarter earnings season and a batch of economic data. The Dow rose 0.36 percent to end at 34,996.18 points, while the S&P 500 gained 0.35 percent to 4,384.63. The Nasdaq Composite climbed 0.21 percent to 14,733.24. Virgin Galactic Holdings fell 17 percent after the space tourism company said it may sell up to $500 million worth of shares, a day after the company completed its first fully crewed test flight into space with billionaire founder Richard Branson on board.
In Commodities Markets gold fell on Monday in step with a stronger dollar as investors cautiously looked forward to U.S. inflation data that could influence the Federal Reserve’s timeline for easing its bond purchases. Spot gold was down 0.2 percent to $1,804.80 per ounce. Elsewhere, silver rose 0.3 percent to $26.15 per ounce, palladium gained 1.6 percent to $2,852.81 and platinum was 1.2 percent higher at $1,116.91. U.S. crude recently fell 0.89 percent to $73.90 per barrel and Brent was at $75.05, down 0.66 percent on the day.
In European Equity Markets stocks scaled new highs on Monday on broad-based gains, but worries about the pace of economic recovery made defensive sectors the best bid while travel stocks fell with the Delta variant of coronavirus becoming dominant. The pan-European STOXX 600 index rose 0.7 percent and hit 461.10. Germany’s DAX also briefly touched a new high of 15,806.900 before closing just below that level. Real estate, utilities and healthcare were among the best-gaining sectors, up between 1.4 percent and 1.6 percent. Travel and leisure lost 1.3 percent with British airlines leading losses.
In Bond Markets U.S. Treasury yields edged lower on Monday after the Treasury Department saw solid demand for sales of new three-year and 10-year notes, and before a highly anticipated inflation release on Tuesday. Benchmark 10-year note yields were at 1.344 percent, after falling as low as 1.25 percent on Thursday, the lowest since Feb. 16. Thirty-year bond yields were 1.967 percent, after reaching 1.856 percent on Thursday, the lowest since Feb. 2. The Treasury will also sell $24 billion in 30-year bonds on Tuesday.