Stocks closed higher Monday as earnings season heats up this week. Eleven per cent of the S&P 500 slated to report results. Some notable names on deck this week include Johnson & Johnson, Bank of America, Netflix and Tesla. Those results follow a solid start to the reporting period. Brokerage Charles Schwab rallied more than 4 per cent on Monday after surpassing Wall Street expectations for earnings per share in the third quarter. JPMorgan Chase, Wells Fargo and UnitedHealth rose Friday after posting their latest quarterly results.

In further company news, unrelated to earnings season, Lululemon Athletica's stock surged over 10 per cent to reach a nearly two-year high as it was announced that the company would replace Activision Blizzard in the S&P 500 index on October 18, following Microsoft's acquisition of the video game publisher. Ford's Chairman Bill Ford called on autoworkers to end a month-long strike, emphasising the potential threat to the company's future investments in vehicle development and factory expansion due to high labour costs, especially given Ford's large UAW workforce compared to its competitors. LinkedIn is cutting about 668 roles across its engineering, product, talent and finance teams. These are the second such cuts this year as fewer companies use the hiring platform and corporate social network.

The 10-year U.S. Treasury yield rose nearly 8 basis points to 4.712 per cent on Monday, while oil prices slipped as investors parsed the latest updates out of the war.

European markets closed higher. London's FTSE gained 0.41 per cent, Frankfurt added 0.34 per cent, and Paris closed 0.27 per cent higher. Turning to Asian markets, Tokyo's Nikkei fell 2.03 per cent, Hong Kong's Hang Seng lost 0.97 per cent while China's Shanghai Composite closed 0.46 per cent lower.

Gold lost 0.46 per cent. Silver fell 0.63 per cent. Copper added 0.24 per cent. Oil fell 0.70 per cent.

Dow Jones 33,984.54 +314.25 +0.93%
US S&P 500 4,373.63 +45.85 +1.06%
US Nasdaq 13,567.98 +160.75 +1.2%
UK FTSE 100 7,630.63 -45.18 -0.59%

RECENT INDIAN OCEAN SECURITIES TRANSACTIONS

Balkan Mining Minerals Limited (ASX:BMM) Mining Exploration Sector IPO at $0.20 Price Change from IPO Investment: + $0.175 / 85.50%
Smart Auto Australia Limited (NSX:SAL) Electric Commercial Vehicles Sector IPO at $0.10 Price Change from IPO Investment: + $0.10 / 100%
Azure Health Technology Limited (NSX:VTL) Health Technology IPO at $0.20 Price Change from latest Investment entry: - 0.05 / 25%
Albion Resources Limited (ASX:ALB) Diversified Metals & Mining IPO at $0.20 Price Change from latest Investment entry: - $0.015 / 7.5%
Sprintex Limited (ASX:SIX) Auto Parts & Equipment IPO at $0.086 Price Change from latest Investment entry: - $0.013 / 15.12%
Jadar Resources Limited (ASX:JDR) Diversified Metals & Mining Private Placement at $0.03 Price Change from latest Investment entry : - $0.007 / 23.33%
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Douugh Limited (ASX:DOU) Wireless Telecommunications Services Placement at $0.020 Price Change from latest Investment entry: + $0.074 / 370%
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Advanced Share Registry Limited published this content on 17 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 October 2023 03:32:31 UTC.