Most major global stock markets rose on Tuesday with investors looking ahead to the release of US economic data and the earnings reports of tech titans this week. Oil prices rebounded after a sharp fall the previous day on relief that Israel's strikes on Iran spared the country's energy infrastructure. Concerns in the oil market have now shifted back to focus on potential oversupply in 2025 and a slowdown in demand from China, the world's largest oil importer, according to analysts.
US stocks closed higher Monday, boosted by the cheaper oil, and as investors look ahead to a busy week of economic indicators with the market already hovering near record highs. The US government will release its third quarter GDP growth estimate this week, as well as its closely watched monthly labour market report, which will indicate the health of the world's largest economy. Investors are also eyeing the earnings reports of five of the "Magnificent Seven" US tech giants due this week, including Google-parent Alphabet, Amazon, Apple, Facebook-parent Meta, and Microsoft.
"Although any market focus on earnings will rapidly be diverted to next week’s presidential election and Federal Reserve meeting," said Danni Hewson, head of financial analysis at AJ Bell. Major European stock markets were in the green in late morning trading while Asian markets ended mixed. London edged up around 0.
1 percent as investors awaited the first budget of Britain's new Labour government on Wednesday, expected to inc.
