Fri, 03 Dec 2021

NEW YORK, New York - Stocks were mixed in the United States on Monday as market participants weighed up a decline in economic growth in China, the world's second-largest economy, against positive earnings reports.

"The wall of earnings over the next two weeks will be key as to the market's next move; a continuation of the positive commentary should help keep the rally well-supported," Chris Beauchamp, chief market analyst at IG told Reuters news agency Monday.

"Judging by the figures so far it seems like earnings season will be the catalyst for further gains that eluded investors throughout September and early October."

The Nasdaq Composite was the biggest winner Monday, rising 124.47 points or 0.84 percent to 15,021.81.

The Dow Jones index fell 36.15 points or 0.10 percent to 35,258.61.

The Standard and Poor's 500 added 15.09 points or 0.34 percent to 4,486.46.

The U.S. dollar was mixed Monday. The euro nudged up to 1.1612 approaching the New York close. The British pound softened to 1.3731. The Swiss franc rose to 0.9229. The Japanese yen slipped to 114.30.

The Canadian dollar was a fraction stronger at 1.2379. The Australian dollar was little changed at 0.7416. The New Zealand dollar strengthened to 0.7084.

On European markets, the German Dax fell 0.72 percent. In Paris, the CAC 40 was down 0.81 percent.

London's FTSE 100 declined 0.42 percent.

In Asia, China recorded a GDP of 4.9 percent for the third quarter. While this is a healthy number it is significantly below the 8-9 percent achieved in recent years.

The Australian S&P/ASX 200 rose 0.30 percent to close at a 3-week high of 7,381. The All Ordinaries added 15.50 points or 0.20 percent to 7,689.70.

In Japan, the Nikkei 225 lost 43.17 points or 0.15 percent to 29,025.46.

The Hang Seng in Hong Kong was ahead 78.79 points or 0.31 percent to close Monday at 25,409.75.

China's Shanghai Composite dipped 4.23 points or 0.12 percent to 3,568.74.

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