Shares on Wall Street rose on Mon. Tech outperformed. The Dow Jones Industrial Average gained 103.61 pts, or 0.3%, to close at 34,921.88. The broader S&P 500 index rose 0.81%. The tech-heavy Nasdaq Composite advanced 1.90%. The small-cap Russell 2000 gained 0.21%.
Telsa’s (TSLA US, +5.61%) CEO Elon Musk took a 9.2% stake in Twitter (TWTR US, +27.12%). He is now Twitter’s largest shareholder. Musk’s purchase came less than two weeks after he criticized the company, polling his followers on Twitter about whether Twitter adheres to free speech principles.
Apple (AAPL US, +2.3%), Amazon (AMZN US, +2.9%), Alphabet (GOOGL US, +2.0%) and NVidia (NVDA US, +2.4%) were all up. Meanwhile, Starbucks (SBUX US, -3.72%) fell after suspending stock buybacks with immediate effect to invest in staff and stores.
US-listed Chinese equities surged on easing fears about potential delistings after Beijing moved toward meeting audit disclosure requirements. The Invesco Golden Dragon China ETF (PGJ US) jumped 7.53% on Mon.
The yield on the 10-year Treasury note notched up 1.3 basis points (bps) to 2.3915%. The yield on the 2-year Treasury note slipped 3.43 bps to 2.4221%.
The iShares iBoxx High Yield Corporate Bond ETF (HYG US) rose 0.76%.
Crude oil futures advanced. The European Union is working on new Russian sanctions for alleged atrocities. The front-month Brent and WTI futures closed up $3.14 at US$107.53/bbl and $4.01 at US$103.28/bbl respectively.
The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, rose 0.37% to 99.00.
The most actively traded US gold futures (Jun) contracts settled up $10.30, or 0.5%, at US$1,934.00/oz. May silver, which is the most actively traded silver futures, fell 6.4 cents, or 0.3%, to end at US$24.590/oz.
European equity markets finished higher on Mon. The UK FTSE gained 0.7%, France's CAC 40 rose 0.5%, while the German DAX advanced 0.2%.