CAPITAL MARKETS

US stocks reach new highs

The S&P 500 and Nasdaq hit all-time highs in the US yesterday.

Staff reporter
 Copper at Glencore’s Alumbrera JV in Argentina

Copper at Glencore’s Alumbrera JV in Argentina

The indexes were boosted by tech stocks as investors expect a robust earnings season while interest rates remain low, Reuters reported.

The S&P 500 closed up 0.23% to 4,290.61 and the Nasdaq gained almost 1% to close at 14,500.51.

The gold price is similar to yesterday, at US$1,776 an ounce on the spot market.

Base metals were mixed in London.

"We have a big week ahead with important data releases from Wednesday, quarter-end on Wednesday and the 100th anniversary of the founding of China's communist party on Thursday," Marex's Dee Perera said.

Among the major mining equities, Glencore closed down 1.79% in London as it prepares to farewell long-serving CEO Ivan Glasenberg on June 30.

Rio Tinto closed down 1%.

Freeport-McMoRan lost 1.34% in New York and BHP was down more than 1% in morning Australian trade.

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