Market Mood Shifts as Oil Prices Fall and Nvidia Earnings Loom

Global stock markets are experiencing a turnaround on Tuesday, reversing some of the bearish sentiment that has taken hold over the past week. European indices are showing broad gains, and US stock futures are also pointing to a stronger open later in the day.

The decline in oil prices is contributing to this shift in mood, with Brent crude trading below $90 per barrel. Despite Iran's threats of retaliation against the latest round of US economic sanctions, markets seem unfazed.

Nvidia's upcoming earnings report on Wednesday night is also generating excitement, with its share price rising by nearly 1% in pre-market trading. The AI hardware and semiconductor sectors, which were among the worst performers on Monday, are seeing a rebound in their shares.

The 'Dollar Alt' trade is gaining traction as Bitcoin surpasses $80,000 after gaining 4% on Tuesday. Meanwhile, gold prices are reaching a three-month high, boosted by the decline in bond yields and the US fiscal mess.