FYI: Global stocks opened higher on Tuesday, reversing declines from the beginning of the week a day after Fed officials in separate speeches signaled confidence in the U.S. economy.
In Europe, the Stoxx Europe 600 was up 0.2% in morning trading. In Asia, the Shanghai Stock Exchange was up 2.4%, Hong Kong’s Hang Seng Index rallied 0.9% and Japan’s Nikkei gained 0.2% on hopes for a resurgence in Chinese growth.
Futures pointed to small gains when U.S. indexes open with Dow Jones Industrial Average futures up 0.3% and S&P 500 futures up 0.2%.
Investors are watching closely as large U.S. companies post quarterly earnings this week, which are generally expected to disappoint compared with the same period last year. Many analysts are watching for weaker profits as confirmation of concerns that global growth is set to falter in the coming months.
On Monday, officials from the U.S. Federal Reserve indicated they could be willing to leave rates on hold till later this year and sounded a note of optimism on growth prospects in the world’s largest economy.
Later on Tuesday, the U.S. Federal Reserve will post the latest industrial production data, which will be followed by trade data from the U.S. Commerce Department on Wednesday.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was broadly flat.
The 10-year U.S. Treasury ticked up to 2.557% from 2.553% on Monday. Yields move inversely to prices.
Elsewhere in commodities, global benchmark Brent crude oil down 0.4% at $70.91 a barrel on expectations of rising output, while gold dropped 0.2%.