Wall Street delivers lght gains as 10-y yeilds drops; European markets close slightly higher with investors watching Turkey; autos rally
The Dow finished Monday’s session 103 points higher, for a gain of 0.32%. The S&P 500 broke a two-day losing streak and advanced 0.7%. The Nasdaq Composite was the relative outperformer, jumping 1.23% for its fifth positive session in six.
The gains came as the 10-year Treasury yield retreated, after touching a 14-month high last week.
European stocks closed slightly higher on Monday, with investors watching Turkey closely following President Erdogan’s surprise decision to replace the central bank’s chief. The pan-European Stoxx 600 finished up 0.2%, with autos climbing 1.7% while retail stocks dropped 1%.
Volkswagen and Porsche shares climbed 7% and 8.9%, respectively, after Deutsche Bank significantly raised its price target for both German automakers’ stocks.
Source: CNBC