Brent crude climbs to $85.05 a barrel while European and U.S. stocks rise, led by tech shares amid ongoing geopolitical risks.
European and U.S. equities advanced on Tuesday, shrugging off higher oil prices and persistent U.S.-Iran tensions. Brent futures rose 1.5% to $85.05 a barrel after a 7% drop in the prior session, while Europe’s STOXX 600 gained 0.60%, with tech stocks up 1.85%. Nasdaq futures climbed 0.77%, and S&P 500 futures added 0.20%.
The S&P 500 closed 1.48% higher on Monday at 7,610.04, near its record high of 7,620.90, while the Dow Industrials reached a new closing peak. Nasdaq Composite surged 2.12%, reflecting strong risk appetite despite geopolitical uncertainties. MSCI’s global stocks index edged up 0.10%.
Investors favored sectors less sensitive to rising rates, with tech and financials leading gains. Longer-dated U.S. Treasury yields hit a 19-year high, but liquidity and cash levels in the system supported equities. Diplomatic efforts to ease U.S.-Iran tensions continued, though an attack near the Strait of Hormuz raised doubts about a swift resolution.