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Stocks gain as crucial US incomes in focus, US yields rise

Global stock indexes mostly increased on Tuesday, with the Nasdaq scoring a record closing high ahead of key revenues reports today, while Treasury yields hit multimonth highs early as the U.S. presidential election was simply a week away.

After the closing bell, shares of Alphabet were up more than 5% as the Google parent topped third-quarter income expectations and kept in mind an AI-driven surge in its cloud business. The stock ended the routine session up 1.8%.

Meta Platforms and Microsoft are expected to report on Wednesday, followed by Apple and Amazon.com on Thursday.

Stocks have actually seen strong gains this year, partially due to optimism over technology companies and artificial intelligence.

The Nov. 5 U.S. election has actually entered its last stretch, with opinion polls still too close to call a winner in the race between Vice President Kamala Harris, the Democratic candidate, and previous Republican President Donald Trump.

It would not be a surprise to see additional de-risking in the short-term, and some unstable trade for now, ahead of Election Day next Tuesday, stated Michael Brown, a senior research strategist at Pepperstone.

The U.S. Labor Department's JOLTS survey showed task openings were at 7.44 million in September, compared to quotes of 8 million, according to a Reuters survey of financial experts. Investors are eager to see Friday's U.S. tasks report for October.

The Dow Jones Industrial Average fell 154.52 points, or 0.36%, to 42,233.05, the S&P 500 increased 9.40 points, or 0.16%, to 5,832.92 and the Nasdaq Composite increased 145.56 points, or 0.78%, to 18,712.75.

MSCI's gauge of stocks across the globe rose 0.15 point, or 0.02%, to 848.08. The STOXX 600 index fell 0.57%.

Benchmark 10-year U.S. Treasury yields hit a nearly four-month high on investor wariness to buy the financial obligation before next week's U.S. elections, however dipped later on in the day after a. strong seven-year note auction.

U.S. 10-year yields were last down 0.6 basis point at. 4.272%.

The yen discovered its footing following Monday's dip to a. three-month low as the union federal government's drubbing in Japan. in weekend elections clouded the outlook for Japanese financial and. financial policies.

The dollar was last up 0.12% on the day at 153.47 yen . The Bank of Japan announces its monetary policy. choice on Thursday, and is widely anticipated to leave rates. unchanged.

A period of wrangling to protect a coalition in Japan is. likely after Prime Minister Shigeru Ishiba's Liberal Democratic. Party and its junior partner Komeito lost their majority in. parliament, a result that possibly implies bigger financial. spending and complicates the BOJ's push to normalize interest. rates.

The head of the opposition Democratic Party for the People. stated on Tuesday that the central bank need to avoid making huge. changes in its ultra-loose financial policy since genuine wage. development stays at a dead stop.

The dollar index, which determines the greenback. against a basket of currencies, increased 0.01% to 104.27, with the. euro down 0.03% at $1.0815.

Oil rates closed slightly lower after a more than 6% drop. in the previous session. Axios press reporter Barak Ravid said on. social networks platform X, pointing out 2 sources, that Israeli Prime. Minister Benjamin Netanyahu will hold a meeting for a diplomatic. solution to the war in Lebanon.

Brent unrefined futures fell 30 cents, or 0.4%, to. settle at $71.12 a barrel, while U.S. West Texas Intermediate. unrefined shed 17 cents, or 0.3%, to $67.21 a barrel.

(source: Reuters)