Global stocks climb, yields retreat from multi-decade highs
With earnings season approaching, Goldman Sachs estimates S&P 500 earnings will grow 27%, with more than half of the growth driven by companies benefiting from AI infrastructure spending.
Global stocks rose while bond yields declined, with European markets showing signs of stability.
Euro rose 0.2% despite concerns over the euro zone's fiscal outlook.
France's 10-year bond yield dropped to 4.77% after recent increases.
Nasdaq and S&P 500 futures rose, driven by tech sector performance.
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Nvidia, the world's most valuable company and a bellwether for the AI trade, rose 1% in premarket trading, putting it on track for a market value of about US$5.8 trillion. (EPA Images pic)
NEW YORK: European stocks rose on Tuesday, extending a global equity rally as investors turned more optimistic ahead of earnings season, while easing pressure in longer-dated bonds and lower oil prices helped calm markets after last week's fixed-income turmoil.
The euro rose 0.2% to 1.1239 after sliding to a 17-month low overnight, although concerns about the euro zone's fiscal outlook persisted.
A selloff in French bonds triggered by last week's unpopular budget proposal showed signs of spreading across the euro zone at the start of this week. Political uncertainty also increased after Spanish Prime Minister Pedro Sanchez called a snap election on Monday.
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