World shares rise, US yields fall as markets eye earnings, economic data

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NEW YORK : Global stocks rose while U.S. yields dropped on Tuesday as markets eyed upcoming economic data as well as a plethora of corporate earnings, brushing aside the political fallout from President Joe Biden's decision to end his reelection bid.

FILE PHOTO: A man walks past an electric screen displaying Japan's Nikkei share average and a graph showing its recent movements outside a brokerage in Tokyo, July 9, 2024. REUTERS/Issei Kato/File photoNEW YORK : Global stocks rose while U.S. yields dropped on Tuesday as markets eyed upcoming economic data as well as a plethora of corporate earnings, brushing aside the political fallout from President Joe Biden's decision to end his reelection bid.

Markets are also eyeing the release of the core personal consumption expenditures index which is due on Friday and is the Fed's preferred inflation measure. The yield on benchmark U.S. 10-year notes fell 3.5 basis points to 4.225 per cent MSCI's gauge of stocks across the globe rose 0.26 per cent to 819.00. On Wall Street, all three major indexes were advancing with consumer discretionary and technology stocks leading the gains. In Europe, the pan-European STOXX 600 index finished up 0.07 per cent helped by a rally in technology-related shares.

Vice President Kamala Harris will campaign in the battleground state of Wisconsin on Tuesday after securing support from a majority of delegates to the Democratic National Convention, making her the party's presumptive nominee.

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