Stocks rise, oil drops; big tech-related earnings on tap this week
US stocks higher with earnings, jobs report this week
U.S. crude oil settles 6% lower
Yen hits three-month low after election
Updates to 2:30 p.m. ET/1830 GMT
By Caroline Valetkevitch
NEW YORK, Oct 28 (Reuters) -Global stock indexes rose on Monday as investors awaited earnings reports this week from several of the biggest U.S. tech-related companies, while oil prices fell sharply after Israel's retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities.
The Japanese yen fell toa three-month low against the dollar followingan election in Japan thrust the country into political turmoil.
Against the yen, the dollar rose by as much as 1% to a high of 153.88, the yen's weakest level JPY=EBS since late July. The dollar was last up 0.68% at 153.34 yen.
U.S. earnings season is in full swing, with a long list of names due to report this week including five of the biggest U.S. companies: Google parent Alphabet GOOGL.O, Microsoft MSFT.O, Facebook owner Meta Platforms META.O, Apple AAPL.O and Amazon.com AMZN.O.
Theweek also brings the U.S. jobs report for October on Friday, while investors are keeping a close eye on political news with the U.S. presidential election just over a week away.
Employers are expected to have added 123,000 jobs during October, while the unemployment rate is likely to have stayed steady at 4.1%, according to economists polled by Reuters. USNFAR=ECI, USUNR=ECI
The election for U.S. president is expected to be close. Vice President Kamala Harris, a Democrat, was leading Republican Donald Trump nationally by a marginal 46% to 43%, a recent Reuters/Ipsos poll showed. U.S. voters head to the polls on Nov. 5.
Benchmark 10-year U.S. Treasury yields hit a three-month high ahead of this week's data and the election. The yield on benchmark U.S. 10-year notes US10YT=RR was last up 5.2 basis points at 4.284% versus 4.232% late on Friday.
"It's the calm before the storm," said Subadra Rajappa, head of U.S. rates strategy at Societe Generale in New York. "A lot of investors are a little bit more cautious heading into the elections."
Energy shares eased along with oil prices. TheS&P 500 energy sector .SPNY was down0.8%., and U.S.crude oil futures CLc1 fell $4.40, or 6.1%, to settle at $67.38 a barrel.
The three major U.S. stock indexes rose.
The Dow Jones Industrial Average .DJI rose 296.60 points, or 0.70%, to 42,411.00, the S&P 500 .SPX rose 22.64 points, or 0.39%, to 5,830.76, and the Nasdaq Composite .IXIC rose 85.99 points, or 0.46%, to 18,604.59.
Shares of Trump Media & Technology Group DJT.O, parent company of Trump's Truth Social platform, surged to their highest level since June on Monday, extending a recent rally.
MSCI's gauge of stocks across the globe .MIWD00000PUS rose 3.06 points, or 0.36%, to 848.55. The STOXX 600 .STOXX index rose 0.41%.
In Japan, Tokyo's Nikkei .N225 closed up 1.8%, after initially dipping following the election result.
Japan's ruling Liberal Democratic Party lost its parliamentary majority. The party, with junior coalition partner Komeito, won 215 lower-house seats in Sunday's election, public broadcaster NHK reported, well short of the 233 needed for a majority.
In other currencies, the dollar index =USD, which measures the greenback against a basket of currencies, fell 0.07% to 104.31, while the euro EUR= was up 0.19% at $1.0813.
World FX rates YTD http://tmsnrt.rs/2egbfVh
Asian stock markets https://tmsnrt.rs/2zpUAr4
Nikkei 225 index falls as political uncertainty arises https://reut.rs/3UiFsEU
Additional reporting by Amanda Cooper in London and Karen Brettell in New York; Editing by Christopher Cushing, Sonali Paul, Gareth Jones, Marguerita Choy and Leslie Adler
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