- Roma stroll past Udinese as fans protest De Rossi sacking
- Horschel outduels McIlroy to win PGA Championship play-off
- Audiences summon 'Beetlejuice' to top of N. America box office for third week
- Stones salvages point for Man City against 10-man Arsenal
- Egypt fears 'all out' regional war: foreign minister to AFP
- Last-gasp Boniface gives Leverkusen victory, Stuttgart outclass Dortmund
- Scholz's party beats far-right AfD in east German state vote: projections
- Olympic champion Evenepoel retains world title in 'toughest time trial'
- Horschel's eagle beats McIlroy in PGA Championship play-off
- Mourners at commander's funeral express loyalty to Hezbollah
- Norris hails his 'mega' McLaren after dominant win at Singapore
- Monaco beat Le Havre to join PSG at the top of Ligue 1
- Scholz's party narrowly leads far-right AfD in east German state vote: exit polls
- New leftist president vows to 'rewrite Sri Lankan history'
- UN adopts pact to tackle volatile future for mankind
- Leclerc hails Ferrari fightback from torrid Singapore GP qualifying
- Belgian Evenepoel retains world title in 'toughest time trial'
- Sosa rescues point for Forest against Brighton
- Last-gasp Boniface gives Leverkusen victory over Wolfsburg in seven-goal thriller
- Swiss voters reject environment, pensions reforms: official results
- No fairytale ending for Ricciardo after 13 years in Formula One
- Israel and Hezbollah urged to step back from the brink
- What is the UN's 'Pact for the Future'?
- Norris dominates Singapore Grand Prix to cut Verstappen's title lead
- From bullets to ballots: Sri Lanka's comrade president-elect
- McLaren's Lando Norris wins Singapore GP to narrow F1 title race
- UN adopts pact promising to build 'brighter future' for humanity
- Military escalation not in Israel's 'best interest': White House
- Marxist leader declared Sri Lanka's president-elect
- Classes resume at Bangladesh university at heart of protests
- 'Barely anyone left': Sudan's El-Fasher devastated by fighting
- 'Warrior' Joshua vows to fight on despite Dubois mauling
- Martin extends MotoGP lead as Bastianini wins at Misano and Bagnaia crashes out
- New French government instantly under pressure on multiple fronts
- Australia's Brown adds world title to Olympic time trial gold
- Russian strike on Ukraine's Kharkiv wounds 21
- UK's Starmer rules out austerity as Labour conference opens
- Swiss voters reject environment, pensions reforms: projected results
- Israel says 'landed blows' on Hezbollah as Lebanon violence intensifies
- Roma CEO steps down amid anger over club icon De Rossi's sacking
- Incoming French government under pressure on multiple fronts
- Hezbollah rockets strike near Israel's Haifa as UN warns of 'catastrophe'
- Haddad Maia roars back to beat Kasatkina in Korea Open final
- All-rounder Ashwin powers India to 280-run Test win over Bangladesh
- Failed Springbok 'gamble' sets up rugby championship decider
- Lebanon strikes send Israelis to shelters as UN warns of 'catastrophe'
- Far-right AfD eyes new win in east German state vote
- Tony Popovic set to become new Socceroos coach - reports
- All-round Ashwin powers India to big Test win over Bangladesh
- NZ chase 275 to win first Sri Lanka Test after Patel bags six
Global stocks rise, digesting US rate stance as oil prices dip
Stock markets made gains and oil prices steadied Tuesday as investors tracked developments in the war in Ukraine and digested the US Federal Reserve chief's warning of more aggressive interest rate hikes.
Crude futures had soared more than seven percent Monday amid supply worries as European leaders debated banning imports from Russia, but retreated modestly on Tuesday.
Despite the economic and political fallout from the Ukraine conflict, Wall Street stocks regained their swagger, finishing solidly higher in the wake of Monday's pullback that came after Federal Reserve Chair Jerome Powell said policymakers may have to raise rates more aggressively to combat inflation.
Main European markets also finished in the green Tuesday, Frankfurt, Paris and Milan all adding one percent while London was half a percent to the good at the close.
The market "seems to be shrugging off the inflation story and hawkish Fed," said Neil Wilson, chief market analyst at Markets.com.
Chris Beauchamp, chief market analyst at online trading platform IGA, said "equities have found the strength to move higher once more ... buoyed by Powell's confident outlook" Monday, when he said the economy has sufficient strength to withstand higher interest rates.
"Of course, if Powell’s optimism is misplaced then the reckoning will be unpleasant, but for now stock markets are still content to move higher," Beauchamp added.
Ukrainian President Volodymyr Zelensky renewed an offer of direct peace talks with Russian counterpart Vladimir Putin late Monday, while US President Joe Biden warned Russia that it will pay a "severe price" if it uses chemical or biological weapons in Ukraine.
"It seems whatever economic weakness that is starting to arise is being shrugged off as hope grows that Russia has lost momentum in the war in Ukraine," Oanda's Edward Moya said.
"The impact from this war is anyone's guess, but what we do know is that the longer it lasts, the greater the stagflation risk will be for the global economy."
In Asia, Hong Kong's main stocks index ended sharply higher, resuming last week's rally sparked by China's pledge to support the country's markets and indicated a tech crackdown was nearing an end.
Back on Wall Street, consumer discretionary stocks led the industrial sectors following results from Nike that topped analyst expectations.
The sporting giant rose 2.2 percent as strong consumer demand and good product pricing offset a hit from lower China sales.
"Nike is a pretty good bellwether for consumer stocks," said Art Hogan, chief strategist at National Securities. "Yesterday was a bit of an overreaction."
- Key figures around 2040 GMT -
New York - DOW: UP 0.7 percent at 34,807.46 (close)
New York - S&P 500: UP 1.1 percent at 4,511.61 (close)
New York - Nasdaq: UP 2.0 percent at 14,108.82 (close)
London - FTSE 100: UP 0.5 percent at 7,476.72 (close)
Frankfurt - DAX: UP 1.0 percent at 14,473.20 (close)
Paris - CAC 40: UP 1.2 percent at 6,659.41 (close)
EURO STOXX 50: UP 1.1 percent at 3,926.12 (close)
Tokyo - Nikkei 225: UP 1.5 percent at 27,224.11 (close)
Hong Kong - Hang Seng Index: UP 3.2 percent at 21,889.28 (close)
Shanghai - Composite: UP 0.2 percent at 3,259.86 (close)
Brent North Sea crude: DOWN 0.1 percent at $115.48 per barrel
West Texas Intermediate: DOWN 0.3 percent at $111.76 per barrel
Euro/dollar: UP at $1.1033 from $1.1016 Monday
Pound/dollar: UP at $1.3260 from $1.3169
Euro/pound: DOWN at 83.16 pence from 83.65 pence
Dollar/yen: UP at 120.82 yen from 119.47 yen
N.Fournier--BTB