Global markets today: Wall Street, European stocks gain ahead of Fed meet
US Federal Reserve and the Bank of England will leave interest rates unchanged on Wednesday and Thursday, respectively. This week, investors will also keep a close eye on policy announcement from Japan’s central bank and China factory data. The US stocks rallied more than 1% on Monday ahead of jobs data and the Federal Reserve's two-day monetary policy meeting.
The S&P 500 gained 49.19 points, or 1.19%, to end at 4,166.56 points. The Nasdaq Composite gained 143.74 points, or 1.14%, at 12,786.75. The Dow Jones Industrial Average rose 512.02 points, or 1.58%, at 32,927.51.
On Tuesday, the Federal Open Markets Committee (FOMC) will convene for a two-day meeting. The yield on the 10-year treasury rose to 4.89% from 4.84% late Friday. McDonald's earnings - McDonald's Corp.
reported better-than-expected sales in the third quarter ended September 30, boosted by popular promotions. Its net income — which included a $26 million charge for a restructuring announced last spring —jumped 17% to $2.3 billion. Onsemi earnings - The chipmaker forecast weak fourth quarter revenue on slowing demand for electric vehicles.
Its third quarter revenue of $2.18 billion inched past expectations of $2.15 billion. The US dollar fell at 149.00 Japanese yen from 149.52. The euro rose at $1.0618 from $1.0567.
US crude oil benchmark for December delivery fell $3.23 to $82.31 a barrel on Monday. Brent crude for December delivery lost $3.03 at $87.45 a barrel. Natural gas for Decemberdelivery fell 13 cents at $3.35 per 1,000 cubic feet.
European shares rose on Monday, boosted by a drop in bond yields. The pan-European STOXX 600 gained 0.4% after falling more than 4% in the past two weeks. The healthcare sector rose 1.1%.
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