Asia's stock rebound spreads to Europe as oil falls before U.S. inflation data
Tokyo and Seoul post strong gains, while a further drop in crude supports European shares. The next U.S. test comes at 8:30 AM ET.
Asian stocks rallied Tuesday and European shares advanced as the technology rebound continued and oil prices fell. Japan's Nikkei gained about 2.9% and South Korea's Kospi about 4.4%, extending the recovery after last week's selloff.
Europe's Stoxx 600 was also higher in morning trading. Brent crude traded below $90 a barrel during the session after President Donald Trump played down the prospect of additional U.S. strikes against Iran. Lower oil prices eased one source of inflation pressure, although hopes for talks are not the same thing as a settled agreement.
The next test is inflation
October's U.S. consumer price index and real earnings figures are scheduled for 8:30 AM ET. Those results were still ahead at publication, so this morning's rebound does not include a reaction to the data.
The move follows Monday's broad Wall Street rally. Tuesday's overseas gains extend that recovery, but one stronger session does not settle the questions about technology spending and interest rates that drove last week's losses.
