Stocks rise as oil slips with tech earnings and Fed ahead
SPY•Global stocks rose and oil prices fell as investors awaited major U.S. technology earnings and central bank decisions. The S&P 500 gained 0.55%, the Nasdaq rose 0.98%, and U.S. crude fell 1.6% to $100.14 a barrel in late-morning trading.
1. Stocks climb, oil retreats
World stocks rose on Tuesday while oil prices slipped as investors watched for developments around Middle East talks and awaited major U.S. technology earnings and central bank meetings. By 11:35 a.m. ET, the Dow was up 0.11%, the S&P 500 had gained 0.55% and the Nasdaq was 0.98% higher.
2. Earnings and rate decisions
Microsoft, Amazon and Alphabet were among the technology companies due to report earnings this week. The Federal Reserve, European Central Bank and Bank of Japan were expected to leave interest rates unchanged, with investors focused on policymakers’ comments; traders were pricing in a Fed rate increase in December.
3. Oil and bond yields
U.S. crude fell 1.6% to $100.14 a barrel and Brent dropped 1.68% to $113.86. The U.S. 10-year Treasury yield edged up to 4.991%, while the 2-year yield rose to 4.725%.
