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As investors looked ahead to another significant earnings week on Wall Street, including Charles Schwab, Bank of America, and Morgan Stanley, Asia-Pacific traded higher on Monday.

The quarterly profit reports would reveal insight into the general wellbeing of the monetary area in the U.S. following the breakdown of Silicon Valley Bank and how that would shape the U.S. Central bank’s fixing cycle.

The Hang Seng index in Hong Kong led regional gains, rising 1.73 percent, while the Shanghai Composite in mainland China rose 1.42 percent to close at 3,385.6. Before China’s gross domestic product report on Tuesday, the Shenzhen Component gained 0.46 percent and reached 11,855.48 at the end of the day.

For the first quarter of 2023, economists polled by Reuters anticipate a 4% increase year-over-year, which is higher than the fourth quarter of last year. That would be the most significant increase in nearly a year.

United States

The S&P 500 rose Monday as brokers sifted through the most recent bunch of corporate profit results, looking for pieces of information on the soundness of corporate America.

The S&P 500 rose 0.33% to complete at 4,151.32, while the Dow Jones Modern Normal

acquired 100.71 focuses, or 0.3%, to end at 33,987.18. The Nasdaq Composite added 0.28% to settle at 12,157.72.

Money Road is intently checking the wellbeing of monetary names this income period after Silicon Valley Bank’s breakdown last month prodded a liquidity emergency and shook the more extensive area.

The declines of tech giants Alphabet, Netflix, and Meta Platforms contributed to the downside of the S&P’s communication services sector, which fell 1.3% elsewhere. The New York Times reported that Samsung is considering making Bing its default search engine. This caused the parent company of Google to lose more than 2% of its value.


On Monday, investors were looking for clues on whether the market will see a “one and done” rate hike by the U.S. Federal Reserve in May. Spot gold was down 0.4 percent at $1,995.80 per ounce by 3:38 p.m. EDT (14:30 GMT), after rising as much as 0.6 percent earlier in the session. Gold reversed course and fell below the crucial $2,000 level. This was caused by a stronger dollar and higher Treasury yields. To $2,007, U.S. gold futures lost 0.44 percent.

On Monday, oil prices fell as investors considered the possibility of a Federal Reserve interest rate hike in May, which could dampen hopes of an economic recovery, and as the US dollar strengthened.

Brent unrefined prospects settled lower by 1.8% at $84.76 a barrel, while U.S. West Texas Middle rough dropped 2.05% to $80.83 a barrel.

The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.

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