Oil Prices Gain Amid Middle East Tensions, Stock Markets See Moderate Uptick

Global Equities Index Advances Modestly Amid Iran Proposal Review and Busy Week Ahead

New York/London, April 27 (Reuters) - The MSCI's global equities index rose modestly on Monday, following the White House's announcement that President Donald Trump was reviewing a proposal from Iran. Investors remained cautious ahead of a busy week of megacap earnings reports, economic data, and central bank decisions.

The index advanced 0.22% to 1,074.52, with the Dow Jones Industrial Average falling 62.92 points, or 0.13%, to 49,167.79. The S&P 500 rose 8.83 points, or 0.12%, to 7,173.91, while the Nasdaq Composite rose 50.50 points, or 0.20%, to 24,887.10.

Oil futures settled higher on Monday, with U.S. crude up 2.09%, or $1.97, to $96.37 a barrel, and Brent up 2.75%, or $2.90, to $108.23 per barrel. The Strait of Hormuz, a critical shipping route, has been limited due to the ongoing war triggered by U.S.-Israeli strikes on Iran two months ago.

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Investors are also awaiting economic data and earnings reports, including first-quarter U.S. economic growth and the March Personal Consumption Expenditures Price Index, which is the Federal Reserve's preferred gauge for inflation. Capital expenditure plans will be a key focus for firms such as Microsoft, Alphabet, Amazon, and Meta Platforms when they report quarterly results on Wednesday.

The U.S. dollar slipped on Monday, falling 0.16% to 98.49 against a basket of currencies, including the yen and the euro. The euro rose 0.01% to $1.1721, while the dollar strengthened 0.01% against the Japanese yen to 159.39.

Major central banks are expected to keep policy on hold this week, including the U.S. Federal Reserve, which is expected to announce its decision on Tuesday and Wednesday. The Bank of Japan is also expected to keep its short-term policy rate steady at 0.75%, while the European Central Bank and Bank of England are expected to keep policy unchanged.

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In U.S. Treasuries, the yield on benchmark U.S. 10-year notes rose 2.5 basis points to 4.336%, while the 30-year bond yield rose 2.5 basis points to 4.9409%. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 2.3 basis points to 3.799%. In precious metals, spot gold fell 0.62% to $4,679.09 an ounce.