[NEWS] Tech leads U.S. stocks higher; oil gains – Loganspace AI

[NEWS] Tech leads U.S. stocks higher; oil gains – Loganspace AI

NEW YORK (Reuters) – U.S. shares won ground on Monday on the onset of a heavy earnings week, whereas European shares inched higher as merchants took heart from doubtless development in U.S.-China alternate talks and rising geopolitical tensions sent oil prices mountain climbing.

Merchants work on the floor on the New York Inventory Commerce (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid

Tech pushed Wall Boulevard into certain territory as merchants girded themselves for per week of 2d-quarter outcomes from fundamental industrial and expertise companies and eyed the U.S. Federal Reserve’s anticipated ardour charge cut on the quit of the month.

The South China Morning Put up reported U.S. alternate negotiators will most likely talk to China subsequent week for their first face-to-face talk with Chinese language officers since U.S. President Donald Trump postponed a brand unique spherical of tariffs on Chinese language imports after a meeting with his Chinese language counterpart in Japan on June 29.

“I don’t give phenomenal credence to the (alternate) recordsdata,” said Stephen Massocca, Senior Vice President at Wedbush Securities in San Francisco. “The chatter will proceed, but we won’t phrase anything else substantive this year.”

The Dow Jones Industrial Moderate.DJIrose 17.7 aspects, or 0.07%, to 27,171.9, the S&P 500.SPXwon 8.42 aspects, or 0.28%, to 2,985.03 and the Nasdaq Composite.IXICadded 57.65 aspects, or 0.71%, to eight,204.14.

Increasing tensions in the Heart East, coupled with worries about Britain leaving the European Union (Brexit) with out a deal held world shares flat.

“Brexit fears may per chance perchance per chance additionally be a diminutive alleviated by a friendly European Central Bank, and it looks that’s the kind they’re trending,” said Bucky Hellwig, senior vp at BB&T Wealth Management in Birmingham, Alabama.

The pan-European STOXX 600 index rose 0.13% and MSCI’s gauge of shares all the arrangement by the globe .MIWD00000PUS won 0.05%.

Brent incorrect prices LCOc1 moved higher on worries that Iran’s seizure of a British tanker last week may per chance perchance per chance perchance result in present disruptions.

U.S. incorrect settled at $56.22 per barrel, up 1.06%, whereas Brent settled at $63.26, gaining 1.26% on the day.

The dollar and euro were diminutive changed as merchants looked to policy choices from the U.S. Federal Reserve and the European Central Bank relating to the tempo at which they’ll cut ardour charges, starting up attach with the ECB on Thursday.

“Clearly the ECB will loosen as will the Fed,” added Massocca. “It’s all been thoroughly-telegraphed by the markets.”

“It’s certain, it’s bullish, but to this point as what comes out of these meetings I’m now not looking ahead to any surprises.”

The dollar index .DXY rose 0.14%, with the euroEUR=down 0.12% to $1.1207.

U.S. Treasury yields fell and the yield curve flattened as dovish Fed financial institution policy supported predict of for presidency debt.

Benchmark 10-year notes US10YT=RR last rose 1/32 in trace to yield 2.0482%, from 2.05% slack on Friday.

The 30-year bond US30YT=RR last rose 4/32 in trace to yield 2.5734%, from 2.578% slack on Friday.

FILE PHOTO: The German share trace index DAX graph is pictured on the stock alternate in Frankfurt, Germany, July 19, 2019. REUTERS/Team/File Photo

Gold held real, on the heels of a moving drop in the old session on reduced charge cut expectations, however the stable-haven metallic aloof stumbled on give a boost to in the create of global geopolitical uncertainties.

Place gold XAU=UP 0.08% at $1,425.24 an ounce.

Transport prices rose on sturdy vessel predict of, with the Baltic Dry Index .BADI jumping to a 5-year excessive.

Reporting by Stephen Culp; additional reporting by by Karin Strohecker in London; additional reporting by Sujata Rao in London and Shinichi Saoshiro in Tokyo; Bettering by Susan Thomas