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Global markets update: Tech stocks lead Nasdaq, S&P 500 higher


On Wall Street, technology stocks led the Nasdaq and the S&P 500 higher on Monday, despite rise in treasury yields.

The S&P 500 added 30.42 points, or 0.70%, at 4,400.13 points. The Nasdaq Composite climbed 206.65 points, or 1.55%, at 13,497.42. The Dow Jones Industrial Average fell 37.40 points, or 0.11%, at 34,463.26.

The yield on the 10-year treasury surged to a 15-year high on hopes that interest rate would remain higher for a longer period. The yield hit 4.354%, the highest since November 2007.

Shares of Nvidia rose as HSBC raised its price target on the stock to $780.  Nvidia jumped 8.5%. 

Microsoft stock rose 1.7%. Tesla rallied 7.3%.

Software maker Palo Alto Networks climbed 14.8% after reporting stronger profit.


European shares rose on Monday, led by energy and miners.

The pan-European STOXX 600 edged 0.1% higher.

Britain’s FTSE 100 lost less than 0.1% at 7,257.82. Germany’s DAX rose 0.2% at 15,603.28. France’s CAC 40 added 0.5% at 7,198.06.

Among the sectoral gains, energy and miners rose 0.6% and 0.4%, respectively, on higher crude oil and metals prices.

Healthcare index added 0.3% as Novo Nordisk rose 0.8% after Morgan Stanley raised its price target.

German automotive supplier Continental soared 5.9% after a report on possible corporate restructuring that would involve sale of assets. 


The US dollar rose at 146.11 Japanese yen from 145.32. It rose at $1.0899 from $1.0878 against the euro.


Asian stock markets ended mixed on Monday after a rate cut by the People’s Bank of China.

Hong Kong’s Hang Seng index fell 1.8% at 17,623.29. In China, Composite index edged down 1.2% at 3,092.98. 

Japan’s Nikkei 225 added 0.4% at 31,565.64. 

Australia’s S&P/ASX 200 index closed 0.5% lower at 7,115.5 points. New Zealand’s benchmark S&P/NZX 50 index retreated 1.3% to 11,458.69 points. 

Energy prices

Brent crude for October delivery lost 34 cents at $84.46 a barrel on Monday. The US crude oil benchmark for September delivery fell 53 cents at $80.72 a barrel.

Natural gas for September delivery added 8 cents at $2.63 per 1,000 cubic feet.


Gold for December delivery gained $6.50 at $1,923 an ounce. Silver for September delivery rose 61 cents at $23.34 an ounce.

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Updated: 22 Aug 2023, 02:21 AM IST

Joanna Swanson

Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.