Markets are eyeing signs of easing in Mideast tensions and impressive AI-fueled tech earnings.
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Markets are eyeing signs of easing in Mideast tensions and impressive AI-fueled tech earnings.
By Lawrence Delevingne and Amanda Cooper May 5 (Reuters) - Global stocks rose on Tuesday, taking some heart from a series of robust earnings, while simmering hostilities between the U.S. and Iran over
Stocks were back near their highest levels on record after Wall Street turned its attention away from Iran and back to earnings season. The Dow rose 305 points, or 0.6%. The S&P 500 was up 0.7%. The Nasdaq was up 0.
European and US stocks advanced Tuesday as investors weighed first-quarter corporate earnings alongside uncertainty over the fragile US-Iran ceasefire. "First-quarter corporate earnings have largely been robust so far which has helped to sustain global equities despite the uncertain backdrop," said AJ Bell head of markets Dan Coatsworth.
Stocks were set to edge higher on Tuesday as investors looked past rising tensions in the Middle East and took the opportunity to buy the dip in equities following another batch of solid earnings reports. S&P 500 futures added 0.3% and contracts tied to the tech-heavy Nasdaq 100 gained 0.5%. The three major indexes all dropped on Monday after the United Arab Emirates said Iran was attacking it with missiles, sparking fears that the Middle East conflict could escalate after weeks of relative calm.
Oil prices fell as wary markets monitored a fragile US-Iran ceasefire in the wait for the latest rush of earnings.