Global Markets Rise as Wall Street Gains and Oil Prices Fall
Global stock markets mostly advanced on Tuesday, following gains on Wall Street and a decline in oil prices amid ongoing Middle East tensions. European markets saw solid gains, with Britain's FTSE 100, France's CAC 40, and Germany's DAX each rising by 0.8%. U.S. futures also showed positive momentum, with the S&P 500 and Dow Jones Industrial Average futures up by 0.3% and 0.6%, respectively.
In Asia, Japan’s Nikkei 225 surged 1.1% to 70,683.98, surpassing the 70,000 level for the first time since early July. However, South Korea’s Kospi fell 0.9% as technology-related stocks faced volatility. Hong Kong’s Hang Seng climbed 1%, while Australia’s S&P/ASX 200 rose 0.6%. Markets in mainland China remained closed for a national holiday.
On Monday, Wall Street’s S&P 500 closed near its record high after a 0.7% gain, supported by strong performances from technology giants like Nvidia and Broadcom, each up 2.1%. Oil prices dropped over 1%, with Brent crude falling to $99.07 per barrel and U.S. crude slipping to $87.91. Analysts noted easing pressures on oil prices due to recovering flows through key routes, though tensions between the U.S. and Iran persist.
The 10-year U.S. Treasury yield eased to around 5.27%, slightly below its recent multi-decade high. The U.S. dollar strengthened against the Japanese yen, rising to 158.18 yen, while the euro traded at $1.1238. Investors continue to seek higher returns amid rising inflationary pressures and a U.S. national debt surpassing $40 trillion.