Global stock markets were dominated last week by earnings updates and angst over rising bond yields amid US election uncertainty.

Wall Street stocks finished the day mixed, with the Nasdaq pressing higher and the Dow pulling back.

Besides the neck-and-neck US election, investors are looking ahead to major economic data next week and earnings from tech giants.

“There’s more uncertainty out there than anything else,” LBBW’s Karl Haeling said.

“Ongoing uncertainties surrounding conflicts in the Middle East left traders cautious ahead of the US presidential election,” according to Regina Capital Development Corp. managing director Luis Limlingan.

A rise on US bond yields — at least partially due to speculation that a return to the White House by Donald Trump would lead to tax cuts that fuel inflation — have acted as a headwind.

“This could prove a big test for the markets, while also being a driver of sentiment as we head towards year-end,” Trade Nation analyst David Morrison said.

In Europe, London ended the day down 0.3 percent as investors awaited the first budget of Britain’s new Labour government on Wednesday, expected to include tax rises on businesses.

Meanwhile, shares in British bank NatWest jumped nearly five percent before paring gains as investors welcomed the lender’s strong increase in profits, with income higher thanks to interest rates remaining elevated.

Frankfurt edged higher after data showed Germany’s business confidence rebounded in October.

That ended a four-month streak of declines and offered some rare good news for Europe’s beleaguered top economy.

Mercedes-Benz stock shed around 1.5 percent after the German luxury carmaker said group profits slumped more than 50 percent, hit by weakness in the key Chinese market.

In Asia, Shanghai and Hong Kong markets rose amid hopes of stronger growth in China following the country’s recent attempts to stimulate its stalling economy.

Crude futures climbed and the dollar strengthened against main rivals heading into the weekend break.

Tokyo’s stock market closed down and the yen dipped against the dollar ahead of Japan’s national elections on Sunday.

Independent analyst Stephen Innes pointed to uncertainty over the vote and an upcoming Bank of Japan policy meeting as complicating the outlook for Japanese equities.

“Between election jitters and BoJ chess moves, Tokyo markets are probably in for a busy opening on Monday.”