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Wall St opened the week higher as important inflation data is set to be released later in the week. The tech heavy Nasdaq rebounded after recent weakness, closing the day 1.14% higher. Both the S&P 500 and the Dow Jones also finished Monday in the green gaining 0.67% and 0.25% respectively.
Morgan Stanley has upgraded Tesla stock by 10% following ‘significant breakthroughs with its autonomous software.’ Qualcomm shares also rallied 4%, following news that the chipmaker will be supplying Apple 5G modems for smartphones through 2026.
Stronger-than-expected economic data points from last week has investors looking forward to key US inflation data released later this week, with prior worries that the Federal Reserve may raise rates for longer than previously expected.
Over in Europe, markets closed higher as investors await a big week of economic news from around the world. The STOXX600 ended the day up 0.34% as basic resources rose 2.4% following Anglo American and Rio Tinto trading higher following gains in metal prices. Germany’s DAX closed 0.36% higher, the FTSE 100 closed higher by 0.25% and the French CAC finished the day 0.52% in the green.
Locally yesterday, the ASX200 closed the day half a percent higher following strength in the financial and consumer staples sectors. This was slightly offset by the health sector which finished yesterday 0.67% in the red.
What to watch today: