Global stocks advanced for a fourth straight session on Monday as investors awaited earnings from a bevy of U.S. megacaps, while the yen strengthened against the dollar as investors looked for any signs of intervention in the Japanese currency, APA reports, citing Reuters.
On Wall Street, U.S. stocks closed higher, buoyed in part by gains in the S&P 500 communication services (.SPLRCL) and tech (.SPLRCT) sectors. Markets are also expecting earnings this week from heavyweight names that are part of the so-called Magnificent Seven, such as Microsoft (MSFT.O), Apple (AAPL.O), Tesla (TSLA.O) and Meta Platforms (META.O), while the Federal Reserve is scheduled to release its policy statement on Wednesday.
The Dow Jones Industrial Average (.DJI) rose 313.69 points, or 0.64%, to 49,412.40, the S&P 500 (.SPX) rose 34.69 points, or 0.50%, to 6,950.30, and the Nasdaq Composite (.IXIC) rose 100.11 points, or 0.43%, to 23,601.36.
MSCI's gauge of stocks across the globe (.MIWD00000PUS) added 6.12 points, or 0.59%, to 1,043.67 and was on track for a fourth straight session of gains, while the pan-European STOXX 600 (.STOXX) index closed up 0.2%, supported by gains in financial stocks ahead of bank earnings later in the week.