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Wall St closed higher on Monday, ending a 4-day losing streak, with all three major indexes ending the day in the green. The S&P 500 and the tech heavy Nasdaq both finished nearly half a percent higher, whilst the Dow Jones finished marginally higher by 0.13%.
JP Morgan upgraded chemical company Dow which saw it rise 1.7% with Amazon shares also increasing by 1% following an announcement of an investment of $4 billion in artificial intelligence firm Anthropic. Generally speaking, US stocks have struggled in September as the Federal Reserve signaled that higher interest rates are there to stay, therefore sending bond yields higher.
Over in Europe, markets finished lower on Monday following a number of Central Bank rate decisions at the end of last week and the potential of higher interest rates over a long period of time. The STOXX600 ended Monday down 0.6% with nearly all sectors finishing in the red. Travel and leisure stocks led losses by 3%, followed by household goods which lost 2% on Monday. The FTSE 100 ended 0.78% lower, whilst the German DAX and French CAC both closed nearly 1% lower to end the day.
Locally yesterday, the ASX 200 ended the day 0.11% higher led by advances in both the information technology and the communications services sectors up 1.92% and 1.19% respectively. This was slightly offset by the materials sector which retreated 0.73%.
What to watch today: