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By Staff Reporters
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U.S. stocks ended the day higher as the markets await some key data later this week and amid some likely caution ahead of tomorrow’s mid-term election. In the final hour of trading, the economic calendar released data on consumer credit for September, which showed that consumers borrowed less than expected. The economic docket will heat up later this week, headlined by the first read on consumer price inflation in the form of the Consumer Price Index, which will be accompanied by some commentary by Fed officials. Treasury yields rose, and the U.S. dollar saw pressure.
Crude oil prices declined, while gold nudged higher.
In equity news, Dow member Apple said iPhone shipments will be hampered by the impact of the COVID lock-downs in China, Meta Platforms is reportedly set to announce large-scale layoffs, and Dow component Walgreens Boots Alliance announced that a company it controls has agreed to acquire Summit Health-CityMD.
Asian stocks rallied, led by Hong Kong markets, while European stocks were mixed to begin the week, as the international markets continued to digest recent global monetary policy decisions.
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Filed under: Alerts Sign-Up, Alternative Investments, Investing | Tagged: DAILY UPDATE: Stocks Rise First Trading Session of Week, stocks rise, trading |
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