Global markets showed mixed movements on Tuesday as investors awaited key central bank decisions and corporate earnings reports. Wall Street futures pointed to a positive open, with the S&P 500 up 0.3%, the Dow Jones Industrial Average gaining 0.2%, and the Nasdaq rising 0.4%. The Federal Reserve began its two-day meeting to decide on interest rates, though economists largely expect no change following last month’s hike.
General Motors announced it will move its stock listing from the New York Stock Exchange to the Nasdaq after 115 years, citing a “technology-driven strategy.” Shares surged 2.8% in premarket trading. Coca-Cola and UPS also reported better-than-expected earnings, with UPS raising its guidance and shares up 1.5%. The tech sector remained volatile, with AI-related stocks fluctuating due to high borrowing costs for data centers and chips. Nvidia, Broadcom, and Intel saw gains in premarket trading.
In Europe, Germany’s DAX and France’s CAC 40 rose slightly, while Britain’s FTSE 100 fell 0.8%. Asian markets were mixed, with South Korea’s Kospi closing 3.1% higher, driven by strong demand for semiconductors. Japan’s Nikkei 225 added 1.7%, while Hong Kong’s Hang Seng slipped 0.7%. Traders also watched for announcements from a closed-door meeting of China’s Communist Party leaders.
Energy markets saw Brent crude oil dip 78 cents to $109.96 a barrel, while U.S. benchmark crude fell 66 cents to $101.10. Rising diesel prices, up 74% from last year, continue to fuel inflation concerns, though the Fed is unlikely to raise rates this week.