Tech powers US stocks higher, crude slumps on China weakness
China's stimulus announcement lacking in details
Q3 earnings, ECB, retail sales in focus
Oil prices fall on softening demand worries
Bond market closed for Columbus Day
Updates as of 10:39 EDT
By Stephen Culp
NEW YORK, Oct 14 (Reuters) -U.S. stocks were led higher by tech whilecrude prices dipped on Monday as investors, amid light Columbus Day trading, looked to promised Chinese stimulus and girdedthemselves for a string of high-profile corporate earnings.
Megacap tech-adjacent growth stocks lifted the Nasdaq and the S&P 500 sharply higher, setting the latter up for a fresh record closing high, while the blue-chip Dow was only barely positive, hovering near Friday's all-time closing high.
"We have some good momentum behind stocks in general, major indices hitting all time highs," Sam Stovall, chief investment strategist of CFRA Research in New York, said.
Oil prices dipped and the dollar was flat as dour news from China stoked fears of softening global demand.
On Saturday Beijing pledged to "significantly increase" debt in its attempt to breathe life into the world's second-largest economy, but disappointed investors with its lack of detail.
This was followed on Monday by a report showing a sharp deceleration in Chinese export growth which missedexpectations by a wide margin, underscoring the need for robust stimulus.
"China is having economic difficulties," Stovall added. "Oil prices are another indication of lack of confidence that China will be able to pull itself up by its own boot straps, primarily because the stimulus details are so sketchy."
The bond market was closed in observance of Columbus Day, and there were no earningsreports or economic data to sway investor sentiment.
That will change later in the week, with retail sales, industrial production, and housing starts/building permits, among the scheduled data releases.
High profile earnings on tap for the rest of the week include Bank of America <BAC.N>, Citigroup <C.N>, Goldman Sachs <GS.N>, Morgan Stanley <MS.N>, Netflix <NFLX.O>, along with a host of healthcare and industrial names.
The Dow Jones Industrial Average .DJI rose 47.32 points, or 0.10%, to 42,911.18, the S&P 500 .SPX rose 40.75 points, or 0.70%, to 5,855.78 and the Nasdaq Composite .IXIC rose 180.90 points, or 0.99%, to 18,524.37.
European shares inched higher as investors digested China's stimulus plans and focused on earnings season and a European Central Bank (ECB) policy meeting due later this week.
MSCI's gauge of stocks across the globe .MIWD00000PUS rose 3.69 points, or 0.43%, to 856.42.
The STOXX 600 .STOXX index rose 0.45%, while Europe's broad FTSEurofirst 300 index .FTEU3 rose 10.11 points, or 0.49%.
Emerging market stocks .MSCIEF fell 0.10 points, or 0.01%, to 1,159.46. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.01% higher, at 613.70, while Japan's Nikkei .N225 rose 224.91 points, or 0.57%, to 39,605.80.
The dollar drifted near recent highs against a basket of world currencies as the euro slipped in advance of the ECB meeting.
The dollar index =USD, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.2% to 103.25, with the euro EUR= down 0.28% at $1.0906.
Against the Japanese yen JPY=, the dollar strengthened 0.54% to 149.94.
Crude prices dipped as economic uncertainties from China and the fifth straight decline in Chinese oil imports cast doubt on global demand.
U.S. crude CLc1 fell 2.05% to $73.98 a barrel and Brent LCOc1 fell to $77.48 per barrel, down 1.97% on the day.
Gold backed down from aone-week high as investors' risk appetite improved.
Spot gold XAU= fell 0.27% to $2,649.50 an ounce. U.S. gold futures GCc1 fell 0.09% to $2,655.30 an ounce.
World FX rates YTD http://tmsnrt.rs/2egbfVh
Asian stock markets https://tmsnrt.rs/2zpUAr4
Hang Seng Index https://reut.rs/3Ykzh5J
World stock indexes YTD https://reut.rs/485qCqY
Reporting by Stephen Culp; Additional reporting by Dhara Ranasinghe and Alun John in London; Editing by Andrew Heavens
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
Aset Berkaitan
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
