Market Moves: Confidence Dips, Yields Rise Ahead of Christmas

The MSCI global equity index saw slight gains as U.S. consumer confidence weakened unexpectedly in December while capital goods orders rose. The U.S. Treasury yields and dollar climbed amid holiday trading. Oil and gold prices fell due to a strong dollar and global market uncertainties.

MSCI's global equity index experienced modest gains on Monday as U.S. consumer confidence dipped unexpectedly. The Conference Board reported a decline from 112.8 in November to 104.7 in December, contrary to forecasts of an increase to 113.3, amid concerns over future business conditions.

While capital goods orders saw a rise, orders for durable goods dropped, reflecting shaky demand for commercial aircraft. The U.S. Treasury yields increased before the sale of $69 billion in two-year notes, with muted volumes anticipated due to the upcoming Christmas holiday on Wednesday.

In the currency markets, the dollar gained after a previous drop, impacting oil and gold prices, which fell amid holiday trading. Both Brent and U.S. crude oil extended last week's losses, while gold followed suit, pressured by the strong dollar and high Treasury yields.

(With inputs from agencies.)