Global shares surge, echoing a rally on Wall Street as oil prices sank back to about US$90
BNN Bloomberg
Global shares rebounded Tuesday from their sharp declines a day before as global investors wagered that the war with Iran may not last too long.
But the gains fell far short of losses Monday, when oil prices neared $120 per barrel before falling back to about $90. U.S. shares were set to rise, with Dow futures up 0.4% at 47,970.00. S&P 500 futures rose 0.4% to 6,830.75.
Helping to assuage investors’ fears, U.S. President Donald Trump told CBS News he thinks “the war is very complete, pretty much.” He also made other comments that seemed to threaten intensified action against Iran if it makes any “attempt to stop the globe’s oil supply.”
France’s CAC 40 added 1.9% in early trading to 54,248.39, while Germany’s DAX surged 2.4% to 23,966.97. Britain’s FTSE 100 gained 1.6% to 10,410.08.
In Asia, Tokyo’s benchmark Nikkei 225 added 2.9% to finish at 54,248.39 after the government released revised economic data that showed Japan’s economy grew slightly faster than initially estimated in the final quarter of last year, boosted by solid business investments.
The economy expanded at an annual pace of 1.3%. The initial estimate was a much weaker 0.2%.
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The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.