London, Monday, 4 April 2022
US Stocks Closed Higher in Anticipation of More Sanctions Against Russia, European Stocks Rally For a Second Day.
US Markets Summary
On Monday, U.S. equities rose as investors kept an eye on the possibility of further sanctions against Russia, despite persistent concerns about inflation and global economic growth.
As technology stocks outperformed, the S&P 500 rose and the Nasdaq Composite gained more than 1%. Twitter (TWTR) stock jumped more than 20% after Tesla (TSLA) CEO Elon Musk revealed that he now holds a 9.2 percent interest in the social media business.
The Dow Jones Industrial Average gained ground on the S&P 500 and the Nasdaq, reversing earlier losses.
As the over-month-long war in Ukraine developed further, investors throughout the world contemplated the European Union's next punitive actions against Russia.
The EU reacted to alleged war crimes in Ukraine on Monday, saying it will "work on new sanctions against Russia as a matter of urgency," as Russian forces allegedly killed civilians and attacked civilian infrastructure in major cities.
Some high-ranking European officials, including Germany's defence minister, have stated that they would support a ban on Russian natural gas, which had previously been exempt from sanctions due to Russia's supply of around 40% of Europe's gas energy.
Crude oil prices in the United States rose for the first time in three sessions on Monday. Brent crude oil, the international benchmark, climbed as well.
European Markets Summary
On Monday, European shares rallied for a second day, with the STOXX 600 and DAX 30 indexes rising 0.9 percent and 0.6 percent, respectively, thanks to increases in technology and discretionary stocks.
Investors were concerned about further sanctions against Russia following rising evidence of war crimes committed by its forces on the outskirts of Kyiv, although mood remained clouded by the Russia-Ukraine conflict.
Meanwhile, Germany's February exports exceeded forecasts, resulting in a trade surplus of €11.5 billion, which was larger than expected.
On the corporate front, German takeout operator Delivery Hero gained more than 10% after announcing a $1.55 billion debt funding syndicate.
U.S. Stock Market Indexes
S&P 500: +36.78 (0.81%) at 4,582.64 as on 4 Apr, 16:14 GMT-4
Nasdaq: +271.05 (1.90%) at 14,532.55 as on 4 Apr, 16:14 GMT-4
Dow Jones: +103.61 (0.30%) at 34,921.88 as on 4 Apr, 16:15 GMT-4
European Stock Market Indexes
STOXX Europe 600: +3.85 (0.84%) at 462.19 as on 4 Apr, 17:50 CEST
FTSE 100 in London: +21.02 (0.28%) at 7,558.92 as on 4 Apr, 16:35 BST
DAX 30 in Germany: +71.68 (0.50%) at 14,518.16 as on 4 Apr, 17:55 CEST
CAC 40 in France: +47.06 (0.70%) at 6,731.37 as on 4 Apr, 18:05 CEST
FTSE MIB 30 in Italy: +12.56 (0.050%) at 25,175.86 as on 4 Apr, 17:35 CEST
IBEX 35 in Spain: +17.10 (0.20%) at 8,520.80 as on 4 Apr, 17:38 CEST
Other markets
Ten-year U.S. Treasury note: +3.5 bps to yield 2.4120%
Dollar index: +0.38 or + 0.39% at 99.01
VIX volatility index: −1.11 (5.65%) at 18.52 as on 4 Apr, 15:08 GMT-5
Oil prices
Crude Oil WTI (NYM $/bbl) Front Month: $103.60 (+ 4.33, 4.36%) as on Apr 4, 2022 4:18 p.m. EDT
Brent Crude Oil Continuous Contract: $107.91 ( +0.38 , 0.35%) as on Apr 4, 2022 at 9:17 p.m. BST
Precious metals
Gold: +7.21 or +0.37% at $ 1,931.84 an ounce as on April, 04 2022 at 16:28 NY Time
Silver: -0.11 or -0.43% at $ 24.51an ounce as on April, 04 2022 at 16:28 NY Time
Cryptocurrencies
Bitcoin: −205.40 (0.44%) at $ 46,217.40 as on 4 Apr, 20:30 UTC
Ethereum: −18.20 (0.52%) at $ 3,504.99 as on 4 Apr, 20:29 UTC
(Written and edited by: The Decision Maker)