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US stocks end higher, with earnings, jobs report this week

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Crude oil settles 6% lower

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Yen hits three-month low after election

(Updates to 4:45 p.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 dropped 6% after Israel's retaliatory strike against Iran

at the weekend bypassed oil and nuclear facilities.

The Japanese yen fell to a three-month low against the

dollar following an election in Japan thrust the country into

political turmoil.

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 ).

The 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 have stayed

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. Election Day in the U.S. is Nov. 5.

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

high ahead of this week's data and the election. They were

last up 4.4 basis points at 4.274% in afternoon U.S.

trading.

"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."

Oil prices tumbled as worries about a wider Middle East war

eased. Brent futures settled at $71.42 a barrel, down

$4.63 or 6.09%. WTI U.S. crude futures settled at $67.38,

down $4.40 or 6.13%.

Energy shares eased along with oil prices, with the S&P 500

energy sector ending down 0.7%, while the three major

U.S. stock indexes closed higher.

The Dow Jones Industrial Average rose 273.17 points,

or 0.65%, to 42,387.57, the S&P 500 rose 15.40 points, or

0.27%, to 5,823.52 and the Nasdaq Composite rose 48.58

points, or 0.26%, to 18,567.19.

Shares of

Trump Media & Technology Group ( DJT ), parent company of

Trump's Truth Social platform, surged 21.6% on Monday, extending

a recent rally.

MSCI's gauge of stocks across the globe

rose 2.44 points, or 0.29%, to 847.93. The STOXX 600

index rose 0.41%.

The yen remained

under pressure as the election loss by Japan's ruling

coalition raises political and monetary policy uncertainty.

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.

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 0.64% at 153.28.

Also, the dollar index, which measures the greenback

against a basket of currencies, fell 0.08% to 104.30, and the

euro was up 0.19% at $1.0813.

(Additional reporting by Amanda Cooper in London and Karen

Brettell in New York; Editing by Christopher Cushing, Sonali

Paul, Gareth Jones, Marguerita Choy, Leslie Adler and David

Gregorio)