Global Markets Rise as Wall Street Gains and Oil Prices Drop

Global stock markets mostly advanced on Tuesday, building on gains from Wall Street, while oil prices retreated amid ongoing Middle East tensions. In early European trading, the FTSE 100 in the UK, CAC 40 in France, and DAX in Germany each climbed 0.8%. U.S. futures also rose, with the S&P 500 up 0.3% and the Dow Jones up 0.6%.

In Asia, Japan's Nikkei 225 surged 1.1% to 70,683.98, marking its first close above 70,000 since early July. However, South Korea's Kospi fell 0.9%, weighed down by losses in tech stocks like Samsung Electronics (-1.5%) and SK Hynix (-3.7%). SoftBank Group dropped 3.1% after its CEO warned of risks tied to advanced technologies.

Oil prices declined over 1% early Tuesday, with Brent crude falling 1.3% to $99.07 per barrel and U.S. crude losing 1.7% to $87.91. Analysts noted easing supply pressures in the Persian Gulf but cautioned that geopolitical tensions persist. Meanwhile, the 10-year U.S. Treasury yield hovered near multi-decade highs at 5.27%, reflecting rising inflationary pressures.

Currency markets saw the U.S. dollar strengthen to 158.18 yen, while the euro edged up to $1.1238. The gains followed Wall Street's positive performance on Monday, with the S&P 500 and Nasdaq reaching near record highs, supported by strong earnings expectations.