Global Stocks Rally as Tech Rebounds and Oil Prices Drop
Global equities rose as investors returned to technology stocks following recent dips while oil prices retreated after Israel and Iran agreed to halt attacks. Markets remain focused on upcoming U.S. inflation data and potential interest rate hikes from the Federal Reserve and European Central Bank.
Global equities rose Tuesday as investors bought tech dips, with U.S. stock futures rising 0.5% to 0.8% and the STOXX 600 gaining 0.7%. The rally follows a cooling of Israel and Iran tensions, which sent Brent crude down 2.1% to $92.3. High-valuation tech IPOs now face a 60% probability of a United States rate hike by October.
ASML Holding NV and Infineon Technologies AG led European gains on Tuesday morning. In pre-market trading, Meta and Goldman Sachs Group Inc rose 1%. OpenAI filed for a confidential IPO on Monday, ahead of the SpaceX market debut this week.
