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• U.S. stocks rose to more than three-week highs on Monday, recovering much of the losses sustained in a sell-off earlier this month, as a decline in Treasury yields assuaged investor concerns about rising interest rates and refocused attention on economic growth.

The U.S. 10-year Treasury note yield eased to 2.8642 percent US10YT=RR, slipping from a four-year high it hit last week. On Friday, the Federal Reserve said it expected economic growth to remain steady and saw no serious risks on the horizon that might alter its planned pace of interest rate hikes.

The Dow Jones Industrial Average .DJI rose 399.28 points, or 1.58 percent, to 25,709.27, the S&P 500 .SPX gained 32.3 points, or 1.18 percent, to2,779.6 and the Nasdaq Composite .IXIC added 84.07 points, or 1.15 percent, to 7,421.46.

• Asian shares extended their recovery on Tuesday, hitting a three-week high as U.S. borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell’s highly-anticipated first congressional testimony later in the day.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent, building on its bounce from a two-month low touched on Feb 9.

Japan's Nikkei 225 rose 223.97 points, or 1.01 percent, extending a 1.19 percent gain seen in the last trading session. The technology, financials and manufacturing sectors traded in positive territory in early trade.

Reference: Reuters, CNBC