World stock markets cheered by healthy economy; dollar firm

Gary Cohn is reportedly the top pick to take over for Janet Yellen as Federal Reserve chair

Cohn reportedly front-runner to replace Yellen as Fed chief

The dollar rose nearly 0.4 percent to 114.29 yen JPY=D4 , a two-month peak, while the dollar index - which measures the dollar's value against a basket of other major currencies - was a touch firmer at 96.142.

The dollar .DXY ground higher against most major currencies, including to a four-month high of 114.43 yen JPY= as traders played the past fortnight's 25 basis-point rise in USA government bond yields against the Bank of Japan's vow to keep its stimulus flowing.

On Friday, the benchmark index posted a marginal increase of 0.01 percent or 1.02 points to close at 7,889.33.

The big four banks rose between 0.1% and 0.7% while regional lenders Bendigo and Bank of Queensland ended up more than 1% each.

JIT questions Sharif's daughter in Panama Papers case
Ahead of Maryam's 11.00 am appointment, the ruling party maintained that the JIT's decision "egoistic" in nature, reported Dawn . Sharif said the two sides identified the need for increased cooperation in agriculture, industry, education and culture.

The Dow edged down 5.82 points or less than a tenth of a percent to 21,408.52, but the Nasdaq climbed 23.31 points or 0.4 percent to 6,176.39 and the S&P 500 inched up 2.25 points or 0.1 percent to 2,427.43.

Federal Reserve chief Janet Yellen starts two days of testimony on Wednesday as it prepares to unwind the massive hoard of bonds it bought to ease the financial crisis, while top ECB and Bank of England policymakers were due to speak in Europe on Tuesday. "Also, people are waiting to get more clarity with earnings kicking off in earnest with the banks on Thursday and Friday".

Business software developer Citrix Systems (CTXS) may also see early weakness after announcing CEO Kirill Tatarinov is leaving the company.

BHP Billiton advanced 1.1%, Rio Tinto gained 0.8% and Fortescue Metals Group rallied 3.5% after iron ore futures on the Dalian Commodity Exchange rose for a third straight day.

Fatal Airbag Explosion Triggered by a Hammer
The OEM noted that 12 recall notices were sent since 2009 to the Accord's registered owners. Police photos show the metal airbag inflator exploded and shot out fragments of metal.

Snap, the parent of photo messaging app Snapchat, dropped 4.9 per cent following a downgrade from Morgan Stanley.

European stock markets followed Asia higher, with blue-chip stock markets in London, Paris and Frankfurt up 0.2 to 0.5 per cent in early Monday trade. Hong Kong's Hang Seng added 1.5 percent, while the Kospi in South Korea climbed 0.6 percent.

Speculators this week slashed net long bets on the US dollar to their lowest since mid-May 2016 in the week ended July 4, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. It added 17 cents to settle at $44.40 a barrel on Monday. The greenback has strengthened against the yen in the past month as divergent central bank policies come into focus, with the Bank of Japan affirming it will continue to provide stimulus to the Japanese economy.

The euro pulled back slightly, fetching $1.1397, compared with $1.1399 late Monday in NY.

Congress flip-flop on Chinese envoy meeting Rahul
While the Congress had earlier denied having information about the meeting, they later confirmed that the meeting took place. The troop impasse is in the Doka La or Doklam area, near Sikkim .

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