In US economic data, the Chicago Federal Reserve national activity index was steady at -0.19 in June (survey: -0.03). And the Dallas Federal Reserve manufacturing index fell from -17.7 to -22.6 in July (survey: -22).
European sharemarkets were mixed on Monday. The panEuropean STOXX 600 index rose by 0.1% with the Banks sector up 1.7%. But the German Dax index fell by 0.3%. Reuters reported that “Russia’s Gazprom said it was halting the operation of another Siemens gas turbine at Nord Stream 1’s Portovaya compressor
station, taking into account the technical condition of the engine.” Nord Stream 1 is Russia’s single biggest gas link to Germany. But the UK FTSE index rose by 0.4% on the back of higher mining and energy shares. In London trade, shares of Rio Tinto rose by 1.6% with BHP shares up by 1.1%.
US sharemarkets were mixed on Monday as investors awaited key earnings results and the Federal Reserve rate decision. Apple, Amazon, Alphabet, Microsoft and Meta Platforms are among companies to report earnings this week. The Dow Jones index rose by 91 points or 0.3%; the S&P 500 index rose by 0.1%; and the Nasdaq index lost 51 points or 0.4%.
US treasuries were weaker on Monday (yields higher). The US Treasury sold US$45 billion of 2-year notes at a yield of 3.015% into ‘good’ demand. US Treasury will sell $46 billion of fiveyear notes on Tuesday and $38 billion of seven-year debt on Thursday. US 10-year yields rose by around 3 points to near 2.81%. And US 2-year yields rose by around 3 points to near 3.02%.
Major currencies were mixed against the US dollar in European and US trade. The Euro rose from lows near US$1.0185 to highs near US$1.0250 and was near US$1.0220 at the US close. The Aussie dollar rose from lows near US69 cents to highs near US69.60 cents and was near highs at the US close. And the Japanese yen eased from near 136.25 yen per US dollar to near JPY136.78 and was at JPY136.67 at the US close.
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Global oil prices rose by near 2% on Monday on concerns about near-term supplies to the global market from Russia and Libya. The Brent crude price rose by US$1.95 or 1.9% to US$105.15 a barrel. And the US Nymex crude price rose by US$2.00 or 2.1% to US$96.70 a barrel.
Base metal prices were lower by as much as 2.9% on Monday with aluminium down the most. But copper and nickel both rose by 0.4%.
The gold futures price fell by US$8.30 an ounce or 0.5% to US$1,719.10 an ounce. Spot gold was trading near US$1,718 an ounce at the US close. The iron ore futures price rose by US55 cents or 0.5% to US$105.01 a tonne.
Ahead: In Australia, consumer confidence and regional population data are scheduled. In the US, weekly chain store sales data is issued with new home sales figures, the Conference Board consumer confidence index and house prices from both S&P/Case Shiller and the Federal Housing Finance Agency. There are also two regional surveys from the Richmond and Dallas Federal Reserve banks
Originally published by CommSec