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US stocks higher with earnings, jobs report this week

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Oil prices down about 5%

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Yen hits three-month low after election

(Updates to 11:45 a.m. ET)

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 reached a three-month low against the

dollar after an 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 since late July.

The dollar was last up 0.49% at 153.05.

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, Microsoft ( MSFT ),

Facebook owner Meta Platforms ( META ), Apple ( AAPL ) and

Amazon.com ( AMZN ).

This week 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 stay steady at

4.1%, according to economists polled by Reuters.,

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 Nov. 5.

Benchmark 10-year U.S. Treasury yields hit a three-month

high ahead of this week's data and election. The yield on

benchmark U.S. 10-year notes was last up 4 basis

points at 4.272%, from 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, with the S&P

500 energy sector down more than 1%.

U.S. crude

fell 5.73% to $67.67 a barrel and Brent fell

to $71.81 per barrel, down 5.58% on the day.

But the three major U.S. stock indexes were higher.

The Dow Jones Industrial Average rose 284.43

points, or 0.68%, to 42,399.36, the S&P 500 rose 23.94

points, or 0.41%, to 5,832.06 and the Nasdaq Composite

rose 99.81 points, or 0.54%, to 18,617.83.

MSCI's gauge of stocks across the globe

rose 3.38 points, or 0.40%, to 848.87. The STOXX 600

index rose 0.51%.

In Japan, Tokyo's Nikkei closed up 1.8%, after

initially dipping following the election result.

Japan's ruling Liberal Democratic Party (LDP) 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, which measures

the greenback against a basket of currencies, fell 0.13% to

104.24, and the euro was up 0.21% at $1.0816.

(Additional reporting by Amanda Cooper in London and Karen

Brettell in New York; Editing by Christopher Cushing, Sonali

Paul, Gareth Jones and Marguerita Choy)