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Global Markets: U.S. stocks rise as oil, bond prices fall on ebbing Syria fears

Reuters  |  NEW YORK 

By Hilary Russ

NEW YORK (Reuters) - Wall Street rose while and government prices fell on Monday on the view that this weekend's U.S.-led missile strikes on were unlikely to mark the start of a broader conflict.

Saturday's strikes marked the biggest intervention by Western countries against Syrian and his ally Russia, which is facing further economic sanctions over its role in the conflict.

"There is a feeling (in the market) that there will be no follow-up action," said.

The Dow Jones Industrial Average rose 190.35 points, or 0.78 percent, to 24,550.49, the gained 16.89 points, or 0.64 percent, to 2,673.19 and the added 29.31 points, or 0.41 percent, to 7,135.96.

"The action was well-received ... and that's giving a chance for investors to focus on macro and earnings," said Peter Cardillo, at in New York.

also rose after positive updates on a drug from

Hopes that the strike against would not escalate further also spurred investors to shed the U.S. dollar.

The dollar index fell 0.3 percent, with the euro up 0.28 percent to $1.2364.

European shares eased, however, adding to a mixed picture from Asian stock markets and suggesting that a degree of caution prevails.

The pan-European index lost 0.41 percent. MSCI's broadest index of shares outside closed 0.5 percent lower, as Chinese skidded 1.6 percent.

MSCI's gauge of stocks across the globe, which tracks shares in 47 countries, gained 0.30 percent.

European and yields, which move inversely to prices, rose across the board. That was partly as attention turned to what is expected to be a robust first-quarter U.S. corporate earnings season, which begins in earnest this week.

The yields on German and bonds, among the most liquid and safe assets in the world, were at their highest levels in nearly two weeks and four weeks, respectively.

Benchmark 10-year notes last fell 5/32 in price to yield 2.8469 percent, from 2.828 percent late on Friday.

The 30-year last fell 7/32 in price to yield 3.0463 percent, from 3.036 percent.

Some other traditional safe-haven bets held firmer, with gold and Japan's yen edging higher.

Dealers were keeping a wary eye on Japanese politics after a survey showed support for had fallen to 26.7 percent, the lowest since he took office in late 2012.

Even so, Japan's Nikkei rose 0.26 percent.

prices, meanwhile, recouped some losses after falling sharply. Brent crude was last at $71.78, down 1.1 percent on the day, with a rise in U.S. drilling for new production also dragging on prices.

U.S. crude fell 1.34 percent to $66.49 per barrel.

(Additional reporting by Abhinav Ramnarayan, and in London, Richard Leong and Kate Duguid in New York, Sruthi Shankar in Bengaluru; Editing by Nick Zieminski)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 21:12 IST
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