• The Dow Jones Industrial Average .DJI rose 336.7 points, or 1.37 percent, to 24,874.76, the S&P 500 .SPX gained 29.69 points, or 1.10percent, to 2,720.94 and the Nasdaq Composite .IXIC added 72.84 points, or 1 percent, to 7,330.71.
U.S. stocks rallied on Monday as fears of a global trade war ebbed with investors betting that U.S. President Donald Trump would back down on his threat to impose hefty tariffs on steel and aluminum imports.
• Strategists also cited rising oil prices and ebbing concerns after an Italian election for a relief rally in the three major U.S. equity indexes.
• Investors started to eye Trump’s threat as a negotiating tool after he tweeted that Canada and Mexico could avoid his proposed tariffs if they ceded ground in the North American Free Trade Agreement (NAFTA) talks.
• Investors were also watching the aftermath of Italy’s election which registered a strong showing for anti-establishment parties though with no group able to form a stable government.
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• Asian stocks rallied early on Tuesday, tracking gains seen in the U.S. and Europe in the last session as concerns over a potential trade war faded.
• Japan's Nikkei 225 jumped 2.03 percent, or 426.97 points, in the early going, with the dollar edging higher against the yen as trade-related fears abated. The dollar fetched 106.32 yen at 8:14 a.m. HK/SIN after falling as low as 105.34 in the overnight session.
• MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent.
• Over in South Korea, the benchmark Kospi advanced 1.16 percent in the morning, with gains seen across sectors, including chipmakers and steel producers.
Reference: Reuters, CNBC
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