Global markets were mostly higher on Tuesday as U.S. stocks rebounded, with the S&P 500 and Dow Jones Industrial Average futures up 0.1%. Investors are eagerly awaiting earnings reports from approximately 150 S&P 500 companies this week.
Oil prices also rose after the Israeli military indicated plans for an offensive in Gaza, with satellite images showing new tent compounds being built in the area. In London, the FTSE 100 hit a record high, while Germany’s DAX and France’s CAC 40 also saw gains.
In Asian trading, Japan’s Nikkei 225 rose despite ongoing manufacturing contraction, while the Hang Seng in Hong Kong surged 1.9%. However, the Shanghai Composite index slipped 0.7%.
Australia’s S&P/ASX 200 climbed, but South Korea’s Kospi dropped slightly. On Monday, the S&P 500, Dow Jones, and Nasdaq all posted gains, with Tesla dropping 3.4% following price cuts.
With concerns about inflation and interest rates, companies are under pressure to deliver strong earnings. The Federal Reserve’s indication of potentially keeping interest rates high has dampened hopes for rate cuts this year.
In oil trading, U.S. benchmark crude and Brent crude both saw gains. The U.S. dollar slipped against the Japanese yen, while the euro rose. Overall, global markets are navigating various economic factors as investors await key earnings reports and monitor geopolitical developments.