Dollar hits highest level since November
The dollar index on Monday hits its highest level since November as the yen weakened and as tensions escalated in the Middle East.
The dollar index hit a high of 106.013, or its best level going back to Nov. 3, 2023, when the index had reached 106.224. The dollar hit a high of 154.4 against the yen, the highest level since June 29, 1990, when the dollar traded as high as 154.58 against the yen.
The dollar also reached a high of 0.9151 against the Swiss franc, which was the highest level since Oct. 6, 2023, when the dollar went as high as 0.9175 against the franc.
— Sarah Min, Gina Francolla
Stocks open higher
Stocks kicked off Monday’s trading session in the green as Wall Street looked to rebound off last week’s sell-off.
The Dow traded more than 350 points higher, which equates to about 1%, shortly after 9:30 a.m. ET. The S&P 500 and Nasdaq Composite rose 0.8% and 0.5%, respectively.
— Alex Harring
Oil prices slip as investors weigh Middle East tensions
Oil prices slipped Monday as investors shook off the risk of a broader regional conflict following Iran’s weekend attack on Israel.
Brent futures for June delivery fell 0.7% to $89.83 a barrel by 2 p.m. London time, while West Texas Intermediate (WTI) futures for May dipped about 0.6%, at $85.14.
— Karen Gilchrist
Temenos shares jump 18% after investigation rejects Hindenburg’s claims
Shares of banking software company Temenos jumped 18% in early deals after it said an independent probe into allegations made by short seller Hindenburg Research were found to be “inaccurate and misleading.”
Hindenburg had alleged “major accounting irregularities” at the Swiss firm in February, causing shares to plummet. But the review found that claims made about the company had been done so “in a distorted manner or out of context,” Temenos said in a statement.
— Karen Gilchrist
CVC confirms plans to list in Amsterdam
A woman cycles past the Euronext Amsterdam stock exchange in Amsterdam on April 7, 2021.
John Thys | Afp | Getty Images
Private equity group CVC said Monday it plans to list on Euronext Amsterdam, confirming earlier reports.
The buyout firm said it plans to raise 250 million euros ($266 million) as part of the initial public offering, while also selling the shares of some existing shareholders.
“We believe an IPO of CVC provides an enduring long term institutional structure to support further growth, we remain completely focused,” CVC CEO, Rob Lucas, said in a statement.
— Karen Gilchrist
European stocks open mostly higher
European markets were mostly modestly higher in early trade Monday, with France’s CAC 40 and Germany’s DAX both up around 0.5%. The U.K.’s FTSE 100, meanwhile, dipped around 0.3%.
The Stoxx 600 index was up 0.2%.
Stoxx 600 index.
CNBC Pro: Wall Street is bullish on copper, thanks to AI. Analysts love these stocks, giving one 234% upside
Wall Street is getting very bullish on copper, despite the metal’s recent rallies.
The rallies have been fueled by supply risks and rising demand for it amid the energy transition and the artificial intelligence boom.
Copper is used in data centers for power cables, electrical connectors, power strips and more, Jefferies noted in an April 10 note.
For those looking to buy into the sector, CNBC Pro screened for stocks in the Global X Copper Miners ETF.
CNBC Pro subscribers can read more here.
— Weizhen Tan
CNBC Pro: A top Nvidia shareholder reveals his trigger for selling growth stocks
Nvidia’s shares have been on a tear this year, up more than 80% in 2024, but one of its top shareholders has revealed why they’ve been selling the stock.
Raj Shant, managing director at the investment firm Jennison Associates, told CNBC Pro that the firm has been selling its position in the AI chip maker to manage risk despite remaining optimistic about its long-term prospects.
CNBC Pro subscribers can read more about Jennison’s reasons.
— Ganesh Rao
Oil prices fall slightly after Israel fends off large-scale aerial attack by Iran
Pipelines and oil storage tanks in Cushing, Okla.
Justin Solomon | CNBC
U.S. crude oil futures were slightly lower Sunday as traders breathed a sigh of relief after Israel fended off a large-scale air assault by Iran and the U.S. emphasized it wants to avoid a wider war in the Middle East.
The West Texas Intermediate contract for May lost 34 cents to $85.32 a barrel as trading began Sunday evening. June Brent futures eased slightly to $90.18 a barrel. U.S. crude closed at $85.66 a barrel Friday, while the global benchmark settled at $90.45. WTI futures began the year around $71 a barrel.
Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that President Joe Biden described as “unprecedented.” Though significant in scale, the Iranian attack caused little actual damage in Israel.
— Spencer Kimball
European markets: Here are the opening calls
European markets are set to open mixed Monday.
The U.K.’s FTSE 100 index is expected to open 41 points lower at 7,952, Germany’s DAX up 23 points at 17,921, France’s CAC 4 points higher at 8,004 and Italy’s FTSE MIB down 8 points at 33,112, according to data from IG.
Data releases include Israeli inflation figures for March. There are no major earnings releases.
— Holly Ellyatt