Australia

Australian shares are set to open higher, after US stocks were little changed.

ASX futures were up 0.5% or 36 points as of 8:00am on Tuesday, suggesting a higher open.

Treasury yields hit their highest levels in months, and stocks started the week little changed, as investors awaited fresh inflation data that could guide the path of interest rates.

The S&P 500, Nasdaq Composite and Dow Jones Industrial Average ended Monday flat, each moving just a few hundredths of a percentage point from Friday's close.

In commodity markets, Brent crude oil was down 0.6% to US$90.63 a barrel, while gold was up 0.4% at US$2,339.03.

In local bond markets, the yield on Australian 2 Year government bonds was up at 3.80% while the 10 Year yield was also up at 4.19%. US Treasury notes were up, with the 2 Year yield at 4.79% and the 10 Year yield at 4.42%.

The Australian dollar was 66.02 US cents up from its previous close of 65.78. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, was flat at 98.90.

Asia

Chinese shares fell on Monday, with the benchmark Shanghai Composite Index 0.7% lower at 3,047.05, the Shenzhen Composite Index shed 1.6% and the ChiNext Price Index slid 1.8%.

Hong Kong's Hang Seng Index edged 0.05% higher to close at 16732.85 after swinging between gains and losses throughout today's session amid potential risk-off sentiment. Hong Kong Chief Executive John Lee said earlier today that the government is considering additional measures to boost the stock market. Utilities and property stocks advanced. China Resources Power and Orient Overseas were both 3.4% higher, while Country Garden Services gained 3.6%. Among decliners, Budweiser Brewing Co. APAC shares fell 5.7% on concerns that weak Chinese consumption could weigh on 1Q results. China Resources Beer lost 4.8% and Xinyi Solar fell 3.9%. The Hang Seng Tech Index closed 0.2% lower at 3444.61.

Japanese stocks ended higher, led by gains in electronics and auto stocks, as strong U.S. jobs data bolstered confidence in the U.S. economy. Renesas Electronics gained 3.6% and Suzuki Motor climbed 3.5%. The Nikkei Stock Average rose 0.9% to 39347.04. Investors are focusing on Prime Minister Fumio Kishida's visit to the U.S. this week as well as any economic indicators. The 10-year Japanese government bond yield rose 1.5 basis points to 0.780%.

Indian shares closed higher, led by auto and steel stocks. Maruti Suzuki rose 3.3% and Mahindra & Mahindra was 3.2% higher. Tata Steel advanced 1.1% and JSW Steel rose 2.4% after saying it achieved record annual consolidated crude steel production in fiscal 2024. IT companies were the biggest laggards of the session, with HCL Technologies down 0.4% and Wipro dropping 1.1%. Nestle India declined 1.6% after it approved higher royalty to its parent company. The benchmark Sensex index ended 0.7% higher at 74742.50.

Europe

European stocks rose for the day, with the Stoxx Europe 600 closing up 0.5% at 508.93, Germany's DAX index added 0.8% to 18,318.97, and France's CAC 40 gained 0.7% to 8,119.30.

The FTSE 100 index closed Monday up 0.4% to 7943 points, in line with global markets, lifted by mining stocks after gold reached another record high and silver came close to a five-year high. Betting-and-gambling group Entain led the bluechip index's top performers, with shares closing up 5.2% after reports that the group could be targeted by U.S. buyout firms. Miner Rio Tinto was the second top performer, up 4.2%, followed by easyJet and Anglo American, up 3.3% and 3.2%, respectively. Shell continued Friday's gains after its 1Q update, closing up 1.2% despite a drop in crude oil prices on easing tensions in the Middle East.

North America

Treasury yields hit their highest levels in months, and stocks started the week little changed, as investors awaited fresh inflation data that could guide the path of interest rates.

The S&P 500, Nasdaq Composite and Dow Jones Industrial Average ended Monday flat, each moving just a few hundredths of a percentage point from Friday's close.

While stock markets were muted, the yields on two-, 10- and 30-year benchmark Treasurys rose to their highest levels since November. The yield on the 10-year note rose to 4.422% from 4.377% Friday. Yields rise when prices fall.

Investors have pulled back on expectations that the Federal Reserve will repeatedly lower interest rates this year, with inflation proving stickier than expected and job creation showing strength in the economy. More traders are betting the central bank will cut the benchmark federal-funds rate just once or twice this year, fewer than officials' last median forecast of three quarter-point cuts.

"You flash back to earlier this year and everyone was like 'We're getting six rate cuts,' and that seemed beyond optimistic at best," said Alex McGrath, chief investment officer for NorthEnd Private Wealth. "One might be the max we see this year, because inflation's not going anywhere."

Inflation has cooled significantly from 40-year highs. More recently, two months of hotter-than-expected readings have reinforced the Fed's wait-and-see approach to cuts. Traders are awaiting fresh inflation data due Wednesday for further insight.

"The bond market has tended to be pessimistic thinking that the economy will roll over and inflation will stay high. The economy isn't rolling over, but inflation is staying high," said Brad McMillan, chief investment officer for Commonwealth Financial Network.

Tesla shares rose 4.9% after Elon Musk said late Friday that the electric-vehicle maker would unveil a self-driving Robotaxi in August.

Entertainment conglomerate Paramount Global shares fell 7.6%. Under sale terms being discussed, Shari Redstone's firm would receive over $2 billion in cash in the first stage of a deal, while nonvoting shareholders would receive stock in a merged company, The Wall Street Journal reported late Friday.

Shares of crypto exchange Coinbase Global rose 6.7%. The price of bitcoin briefly rose above $72,000, before edging lower.