Global equities rise after Iran halts attacks, sending Brent crude down 6.3% to $90.70 ahead of key central bank meetings this week.
Global stock markets advanced Monday as a pause in Middle East hostilities drove oil prices sharply lower, easing inflation concerns. Brent crude fell 6.3% to $90.70 a barrel, while U.S. crude dropped 5.7% to $84.12, reversing last week’s surge above $100.
Europe’s STOXX 600 climbed 0.5%, reaching its highest level since July 7, with retail and travel stocks leading gains. S&P 500 futures rose 0.9%, and Nasdaq futures jumped 1.5%, while Asia-Pacific shares outside Japan gained 0.3%. The euro edged up 0.23% to $1.1395.
Traders slightly reduced bets on a Federal Reserve rate hike this week, with markets pricing a roughly one-in-three chance ahead of Wednesday’s decision. Most analysts expect the Fed to hold rates steady despite recent inflation pressures.