Yahoo Finance Wall Street and FTSE 100 higher ahead of key inflation data
A look at how the major markets are performing on Monday
Wall Street, the FTSE 100 and European stocks were higher on Monday as traders anticipate key US inflation data out this week and second-quarter (Q2) earnings reports from JPMorgan (JPM), Wells Fargo (WFC), Citigroup (C) and BlackRock (BLK).
By market close in Europe, the Dow (^DJI) was up 0.4%, the S&P 500 (^GSPC) rose 0.1%, while the tech-heavy NASDAQ (^IXIC) was almost flat.
FTSE 100 and European stocks
Across the pond, the FTSE 100 (^FTSE) closed 0.2% higher. The CAC 40 (^FCHI) in Paris climbed 0.5%, while in Germany, the DAX (^GDAXI) rose 0.4%.
On the FTSE index, miners including Rio Tinto (RIO.L), Antofagasta (ANTO.L) and Anglo American (AAL.L) were among the stocks at the bottom of the basket, along with online grocer Ocado (OCDO.L).
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"It comes after the UK blue-chip index reached near four-month lows on Friday. Focus shifts to the US earnings season which begins with the banks on Friday,” Victoria Scholar, head of investment at Interactive Investor, said.
US and Asia markets
In the US, improved economic data last week strengthened odds for the Federal Reserve to hike interest rates further.
The second-quarter performances of some of the big banks will be the next key gauge for the wider financial system’s health, with JPMorgan Chase, Citigroup, and Wells Fargo reporting their results later this week.
Moreover, on the economic front, June CPI data will be critical to guide the Fed’s policy path, steering market future trends.
In Asia, the markets were mixed overnight as China's factory-gate prices in June experienced the most significant decrease in seven-and-a-half years, while consumer inflation reached its lowest point since 2021.
Tokyo’s Nikkei 225 (^N225) closed down 0.61% to 32,189.73 points, while the Hang Seng (^HSI) in Hong Kong gained 0.50% to 18,456.78. In mainland China, the Shanghai Composite (000001.SS) also rose, by 0.22% to 3,203.61 points.
Pound
The pound to dollar exchange rate (GBPUSD=X) declined 0.05% to 1.28 in early trade, meaning £1 will get you $1.28. Meanwhile the pound to euro exchange rate (GBPEUR=X) fell to 1.16.
Oil markets
In commodities, oil prices were in the red on Monday as economic data from China failed to encourage investors.
US crude oil, or West Texas Intermediate (CL=F), lost 0.66% to trade at $73.37 a barrel, while Brent crude (BZ=F) lost 0.65% to $77.96 a barrel.
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