US markets headed higher in premarket trading on Tuesday as another round of peace talks between Russia and Ukraine got 💜underway.
On Wall Street, the fu♋tures for the S&P 500 and the Dow industrials gained 0.6%, and global shares rose while crude oil prices fell again after sinking 7% on Monday
US markets headed higher in premarket trading on Tuesday as another round of peace talks between Russia and Ukraine got 💜underway.
On Wall Street, the futures for the S&P 500 and the Dow industrials gained 0.6%, and gl𝕴obal shares rose while crude oil prices fell again after sinking 7% on Monday.
Markets re🧸main unsettled as investors try to gauge what's next for inflation and the global economy as the repercussions of Russia's 🦄invasion of Ukraine continue to play out.
The firsꦇt face-to-face ta🐲lks in two weeks between Russia and Ukraine began Tuesday in Turkey, raising meagre hopes of progress on ending a war that has ground into a bloody campaign of attrition.
The CﷺAC40 in Paris surged 2.9%, Germany's DAX jumped 2.6% and Britain♛'s FTSE 100 gained 1.3%.
After early gains, Russia's MOEX index fell more than 5% in the second day of full trading after it was closed for about a month fဣollowing the Feb. 24 i💙nvasion of Ukraine. Limits have been imposed to curb volatility.
In Asian tra൲ding, Tokyo's N🐓ikkei 225 rose 1.1% to 28,252.42 and the Kospi in Seoul added 0.4% to 2,740.13.
The Hang Seng in Hong Kong picked up 0.8% to 21,864.68, while the Shanghai Composi༒te index lost 0.2% to 3,203.94 as the city entered a second day of a lockdown to combat a COVID-19 outbreak.
A two-phase lockdown on Shanghai's 26 million people is testing the limits of China's hardline “zero-COVID” strategy whose effects are being felt beyond the co𒁏untry's borders.
Australia's S&P/ASX ꦯ200 surged 0.7% to 7,464.30 as the government said it plans to increa✅se spending on national security while reducing costs for households, in part by reducing a tax on gasoline. Treasurer Josh Frydenberg was to present the proposed budget Tuesday.
Weaker oil prices have helpe🎃d push 🍸shares higher, said Yeap Jun Rong of IG.
“China, Japan, South Korea and 📖Taiwan are major oil importers, hence lower oil prices may be deemed as positive for their economies,&qu🐽ot; Yeap said in a commentary.
U.S. crude oil skidded agai🍸n, falling $3.60 to $102.36 a barrel in electronic trading on the Neꦑw York Mercantile Exchange.
On Monday, it slump꧑ed 7% on news of the lockdown in Shanghai, which could dent ✅global demand, Brent crude, the international standard, fell 6.8%.
On Tuesday, Brentও slid $3.15 to 106.34 per barrel in London.
Oil prices are up about 40% globally over concerns a🍎bout tighter supplies as demand remains strong.
Higher oil prices are also raising concerns that already per🎐sistently high inflation could be worsened, further threatening gloꦆbal economic growth.
Bond yields edged higher. The yield on the 10-yeaꦐr Treasury rose to 2.50% from 2.46%ಌ late Monday.
Bond yields have been rising as Wall Street prepares 🅷for higher interest rates.
Thꦆe Federal Reserve has already announced a 0.25% hike of its key benchmark interest rate and is prepared to continue raising rates to help temper the impacts of rising inflat▨ion.
Investors will get more updates this week 🦄on just how much inflation is hurting consumers and businesses.
The Conference Board will release its consumer confidence index for March💖 on Tuesday.
The Commerce Department will release its February report 🥂for personal income and spending on Thursday and the Labour Department will release its employment report for March on Friday.
In currency trading, the dollar🍸ꦕ slipped to 123.57 Japanese yen from 123.77 yen. The euro rose to $1.1087 from $1.0983.