Investors await the monthly US Consumer Price Index report, which is expected today, as this will likely impact how the Federal Reserve hikes interest rates next week, to fight inflation.
The sectors performed well, with all eleven trading in the green.
Rising oil prices helped push energy stocks higher (+1.7 per cent). The technology sector also improved (+1.6 per cent).
Biopharmaceutical company Bristol-Myers Squibb led the single stock movers, up 5.0 per cent at the time of writing.
This followed the US Food and Drug Administration having recently approved Bristol-Myers oral treatment for plaque psoriasis, Sotyktu.
Gilead Sciences rose 4.8 per cent after the healthcare company disclosed it resolved litigation over its HIV therapies with five generic drugmakers, including Lupin, Apotex, Macleods Pharma, Cipla and Hetero Labs.
Rounding out the top movers was global information technology services company, DXC Technology, trading 4.4 per cent higher at the time of writing.
On the flipside, fertiliser firm Mosaic, was down 6.7 per cent, on no apparent news.
Financial services company SVB Financial Group fell 4.1 per cent and CF Industries Holdings, a hydrogen and nitrogen products manufacturer dropped 4.0 per cent, at the time of writing.
In other stock news, Twitter dipped 2.0 per cent after the social media giant called Elon Musk's third attempt to call off his US$44 billion (NZ$72b) acquisition invalid.
Twitter shareholders will vote on Tuesday on whether to approve or reject Musk's takeover bid.
Rest of the World
European markets closed in the green, with the FTSE, the DAX and the CAC all up 1.7, 2.4 and 2.0 per cent.
Asian markets were also in the green overnight. The Shanghai Composite increased 0.8 per cent, the Nikkei rose 1.2 per cent and the Hang Seng was up 2.7 per cent.
Commodities
WTI Crude Oil traded 1.5 per cent higher to US$88.1 per barrel.
Gold also performed well, up 0.7 per cent to US1,740.6 per ounce.
The cryptocurrency market was mixed, with Bitcoin having increased 2.9 per cent and Ethereum down 3.0 per cent.
The US 10-Year Treasury rate rose two basis points to 3.337 per cent, whilst the 30-Year rate increased three basis points to 3.485 per cent.
New Zealand
The NZX 50 was in the green, advancing 0.4 per cent to 11,813.2 points.
The market reacted positively to the government's announcement to scrap the Covid-19 Protection Framework in yesterday's afternoon session.
Managed investment scheme Fonterra Shareholders' Fund was the top performer of the index yesterday, improving 5.8 per cent. The fund will release its full year 2022 earnings results on 22 September.
Retail company The Warehouse Group also performed positively, lifting 3.9 per cent, now up 7.8 per cent year to date.
Rounding out the top movers was dairying company a2 Milk, rising 2.9 per cent, now up 7.9 per cent year to date.
Synlait milk announced that a2 Milk's China-label infant milk formula, produced by Synlait, registration has been renewed until the new food safety legislation takes effect in February 2023. Re-registration under the new legislation is in process.
Tourism company Tourism Holdings was the biggest underperformer of the index, reducing 3.0 per cent.
Infrastructure business Chorus decreased 2.4 per cent yesterday, but is still 7.7 per cent higher year to date.
Closing out the bottom movers was energy company Vector, falling 2.2 per cent.
Australia
The ASX 200 rose 1.0 per cent to 6,964.5 points yesterday.
Sectors were almost all in the green, led by materials which rose 2.2 per cent. Consumer discretionary and information technology both increased 1.5 per cent. The sole sector in the red was health care (-0.3 per cent).
Mining firm Nickel Industries gained 6.7 per cent Monday. The firm has recently upgraded its resources estimates.
Managing director Justin Werner noted that the Hengjaya Mine rose from "2.4 million tonnes to 3.7 million tonnes of contained nickel metal, representing a 56 per cent increase".
Excavation companies Gold Road Resources and De Grey Mining rose 5.2 and 5.1 per cent, respectively.
On the flipside, lithium mining firm Liontown Resources fell 3.1 per cent. This followed the announcement that the company had awarded independent power producer Zenith Energy a contract to supply power to the Kathleen Valley Lithium Project.
Zenith Energy will finance and construct the 95MW hybrid power station for an initial period of 15 years. Once finished, it is expected to have the largest off-grid renewable energy production of any Australian mining project.
Another lithium extraction company, Lake Resources, saw its share price fall 2.7 per cent.
Recycling company Sims Metals decreased 2.8 per cent, following no apparent news.
• For more information on the latest market moves, get in touch with Jarden.
Jarden is advising Tourism Holdings Limited on an agreement to merge with Apollo Tourism and Leisure Limited.
All market pricing and announcements are sourced from Refinitiv, NZX and ASX.
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