Global markets saw a positive trend on Tuesday, with shares mostly higher in Europe and Asia following a rally in U.S. stocks to new records. Technology companies played a significant role in pushing the benchmarks higher.
In Europe, Germany's DAX climbed 0.4%, the CAC 40 in Paris rose 0.4%, and London's FTSE 100 gained 0.4%. In Asia, Tokyo's Nikkei 225 index gained 1%, while the Shanghai Composite index also saw a 0.5% increase.
Notable movements were seen in the automotive sector, with Toyota Motor Corp. gaining 0.5% after shareholders rejected a proposal to remove Akio Toyoda as chairman of the board.
In Australia, the S&P/ASX 200 jumped 1% after the Reserve Bank of Australia decided to keep its key interest rate unchanged. The bank highlighted concerns about persistent inflation and weak economic activity.
U.S. markets are set to be closed on Wednesday for the Juneteenth holiday, with few major economic reports expected this week apart from updates on retail spending and business activity.
On Monday, U.S. stocks reached new highs, with the S&P 500 rising 0.8% to close at 5,473.23. The Dow gained 0.5% and the Nasdaq composite jumped 1%, driven by gains in the technology sector.
Despite rising Treasury yields impacting the stock market, tech shares helped offset the pressure. The Federal Reserve is closely monitoring the situation, aiming to balance high rates to control inflation while considering potential rate cuts to prevent a recession.
In the commodities market, U.S. benchmark crude oil lost 20 cents to $79.52 per barrel, while Brent crude gave up 20 cents to $84.04 per barrel. The dollar saw slight gains against the Japanese yen and the euro.
