US open: Stocks rally on peace talk hopes
Stocks are set to rally and oil drops amid growing optimism surrounding the latest Russia, Ukraine peace talks.
Share this:
US futures
Dow futures +0.63% at 35183
S&P futures +0.66% at 4607
Nasdaq futures +0.8% at 15125
In Europe
FTSE +1.1% at 7566
Dax +1.5% at 14600
Euro Stoxx +1.2% at 3945
Learn more about trading indices
Stocks jump, oil drops
Stocks on Wall Street are set to open higher on Tuesday amid growing optimism surrounding the peace talks which are taking place in Turkey. These are the first peace talks to take place in almost here weeks.
The Russian invasion OF Ukraine has sent energy, oil and more broadly commodity prices surging higher, exasperating concerns over high inflation. As hopes rise of at least a cease-fire, commodity prices are falling and global indices are bounding higher.
Looking ahead attention will also shift to US data with the release of Consumer confidence, which is expected to fall to 107 in March, down from 110.5.
US JOLTS job openings data is expected to show that there are still over 11 million vacancies in the US, more than the 5 million unemployed Americans that there were in January. The data could highlight the tightness in the labour market ahead of Friday’s non-farm payroll report.
In corporate news:
Tesla continues to drive high in the pre-market on Tuesday, after reporting gains of 8% yesterday on plans for a stock split.
FedEx is trading up 2.7% premarket after announcing a change of leadership. Raj Subramaniam the Chief Operating Officer will take over as CEO from June 1.
Where next for the S&P500?
The S&P500 has extended its rebound from 4140 the mid-March low, recapturing the 50 and 100 sma. The move above 4600, in addition to the bullish RSI, are keeping the buyers optimistic of further gains. Buyers will look towards resistance at 4675 the mid-January high, ahead of 4750 the January 12th high. On the downside, support can be seen at the 100 sma at 4540 ahead of 4500 round number and 4410 the March 3 high.
FX markets USD drops, EUR surges
USD is trading sharply lower after booking solid gains in the previous session. The improved mood in the market is hurting demand for the safe haven USD.
The euro is outperforming its peers amid growing optimism surrounding the Russia, Ukraine peace talks. Aside from Ukraine, Europe has the most to gain from cooling tensions in Ukraine, and a cease-fire. German consumer confidence plunged in April to -15.5, down from -8.5 in March and well below the -12 forecast.
GBP/USD has rebounded after a softer start. The pair is rising thanks to USD weakness, recouping losses from the previous session when BoE’s Andrew Bailey warned of slowing economic growth and the ongoing inflation shock.
GBP/USD +0.31% at 1.3130
EUR/USD +0.9% at 1.1080
Oil falls further after 7% falls
Oil prices are falling after steep declines in the previous session. Oil prices tumbled on the news that Shanghai went into a partial 9-day lockdown raising fears over the demand outlook. Today those fears have calmed and optimism surrounding peace talks is dragging on the price of oil. Any cease-fire could drag oil prices lower, even if sanctions are unlikely to be removed immediately.
API inventory data is due later and OPEC+ will meet on Thursday. The OPEC+ group are not expected to increase output more than the already agreed 400,000 barrels. OPEC+ doesn’t see the current rise in price as a result of a supply problem, instead, it is a geopolitical problem, which they are not positioned to resolve.
WTI crude trades -5.07% at $100.33
Brent trades 4.7.4% at $104.00
Learn more about trading oil here.
Looking ahead
14:00 US JOLTS job openings
14:00 US Consumer confidence
20:30 API oil inventory data
How to trade with City Index
Follow these easy steps to start trading with City Index today:
- Open a City Index account, or log-in if you’re already a customer.
- Search for the market you want to trade in our award-winning platform.
- Choose your position and size, and your stop and limit levels
- Place the trade.
US futures
Dow futures +0.63% at 35183
S&P futures +0.66% at 4607
Nasdaq futures +0.8% at 15125
In Europe
FTSE +1.1% at 7566
Dax +1.5% at 14600
Euro Stoxx +1.2% at 3945
Stocks jump, oil drops
Stocks on Wall Street are set to open higher on Tuesday amid growing optimism surrounding the peace talks which are taking place in Turkey. These are the first peace talks to take place in almost here weeks.
The Russian invasion OF Ukraine has sent energy, oil and more broadly commodity prices surging higher, exasperating concerns over high inflation. As hopes rise of at least a cease-fire, commodity prices are falling and global indices are bounding higher.
Looking ahead attention will also shift to US data with the release of Consumer confidence, which is expected to fall to 107 in March, down from 110.5.
US JOLTS job openings data is expected to show that there are still over 11 million vacancies in the US, more than the 5 million unemployed Americans that there were in January. The data could highlight the tightness in the labour market ahead of Friday’s non-farm payroll report.
In corporate news:
Tesla continues to drive high in the pre-market on Tuesday, after reporting gains of 8% yesterday on plans for a stock split.
FedEx is trading up 2.7% premarket after announcing a change of leadership. Raj Subramaniam the Chief Operating Officer will take over as CEO from June 1.
Where next for the S&P500?
The S&P500 has extended its rebound from 4140 the mid-March low, recapturing the 50 and 100 sma. The move above 4600, in addition to the bullish RSI, are keeping the buyers optimistic of further gains. Buyers will look towards resistance at 4675 the mid-January high, ahead of 4750 the January 12th high. On the downside, support can be seen at the 100 sma at 4540 ahead of 4500 round number and 4410 the March 3 high.
FX markets USD drops, EUR surges
USD is trading sharply lower after booking solid gains in the previous session. The improved mood in the market is hurting demand for the safe haven USD.
The euro is outperforming its peers amid growing optimism surrounding the Russia, Ukraine peace talks. Aside from Ukraine, Europe has the most to gain from cooling tensions in Ukraine, and a cease-fire. German consumer confidence plunged in April to -15.5, down from -8.5 in March and well below the -12 forecast.
GBP/USD has rebounded after a softer start. The pair is rising thanks to USD weakness, recouping losses from the previous session when BoE’s Andrew Bailey warned of slowing economic growth and the ongoing inflation shock.
GBP/USD +0.31% at 1.3130
EUR/USD +0.9% at 1.1080
Oil falls further after 7% falls
Oil prices are falling after steep declines in the previous session. Oil prices tumbled on the news that Shanghai went into a partial 9-day lockdown raising fears over the demand outlook. Today those fears have calmed and optimism surrounding peace talks is dragging on the price of oil. Any cease-fire could drag oil prices lower, even if sanctions are unlikely to be removed immediately.
API inventory data is due later and OPEC+ will meet on Thursday. The OPEC+ group are not expected to increase output more than the already agreed 400,000 barrels. OPEC+ doesn’t see the current rise in price as a result of a supply problem, instead, it is a geopolitical problem, which they are not positioned to resolve.
WTI crude trades -5.07% at $100.33
Brent trades 4.7.4% at $104.00
Looking ahead
14:00 US JOLTS job openings
14:00 US Consumer confidence
20:30 API oil inventory data
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
NZD/USD pressure mounts as payrolls looms large
NZD/USD has fallen sharply as Fed rate expectations reset higher, but extreme downside stretch and major support raise the risk of a violent counter-trend rebound.
US Core PCE Preview: Stale or Significant for the Fed
Core PCE inflation takes center stage Wednesday, with traders watching for signs of renewed price pressure and clues on whether the Fed could hike again in October.
Australian Dollar Forecast: AUD/USD Four-Week Slide Nears Critical Uptrend Support 9 29 2026
Aussie momentum has deteriorated sharply into quarter-end, with inflation, Core PCE and NFP on tap as AUD/USD closes in on a pivotal technical threshold.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.