Stocks buoyed by tech rebound; Dudley remarks lift Treasury yields


Treasury yields rose Monday morning.

The pan-European FTSEurofirst 300 index rose 0.87 percent and MSCI's gauge of stock markets across the globe gained 0.65 percent.

"If we're right in our view that U.S. rates will track higher in the second half, then downward pressure in the yen should continue, given the BoJ's yield curve control policy which ensures widening global-Japan bond yield spreads", Mr Wong said. Japan's Nikkei .n225 added 0.6 percent. The euro was down 0.4 percent versus the greenback, to $1.1147, while against the yen the dollar increased 0.5 percent, at 111.43 yen. "Generally, the environment still remains fairly positive for risk appetite", said Khoon Goh, head of Asia research at Australia and New Zealand Banking Group in Singapore. Appetite for stocks can undercut buying in Treasurys.

The Dow Jones Industrial Average rose 144.71 points, or 0.68 percent, to end at 21,528.99, the S&P 500 gained 20.31 points, or 0.83 percent, to 2,453.46 and the Nasdaq Composite added 87.26 points, or 1.42 percent, to 6,239.01.

With little economic data due out on Monday, market-watchers will be on the lookout for any key statements made by two Fed presidents, just days after the central bank chose to raise rates for the second time this year.

Seattle police shoot, kill woman who reported burglary
The officers involved in the incident are expected to be placed on administrative leave while the shooting is under investigation. In a statement released with the audio, police noted that both officers were equipped with " less lethal force options ".

Brexit Secretary David Davis starts negotiations in Brussels on Monday that will set the terms on which Britain leaves the European Union and determine its relationship with the continent for generations to come.

USA gold futures GCcv1 settled down 0.8 percent at $1,246.70.New York Federal Reserve President William Dudley said US inflation is a little low but should rise alongside wages as the labour market improves, allowing the Fed to continue gradually tightening USA monetary policy.The potential for higher rates reinforced the uptrend in the dollar.DXY, which, when it rises, makes dollar-denominated commodities more expensive for holders of other currencies, potentially weakening demand.

Among, Fed speakers, New York Fed President William Dudley appeared upbeat speaking at a business roundtable discussion in Plattsburgh, N.Y., where he described the economic outlook as "pretty good".

"There are some concerning signals from the two largest gasoline (palladium) auto markets, the US and China", ICBC Standard Bank analysts said in a note."The pace of sales growth in both countries has slowed sharply this year."U.S. and Chinese passenger vehicle sales fell in May from a year earlier.Silver XAG= lost 0.3 percent to $16.54 an ounce and platinum XPT= slid 0.6 percent to $918.55 an ounce". The two-year yield was near 1.36% against a 1.307% low, 1.3642% high and 1.32% close. USA crude slipped 0.45 percent to $44.55 a barrel, while global benchmark Brent dropped 0.4 percent to $47.17.