European bank stocks perform well, UBS soars 8%, while the three major US futures show mixed movements. Oil prices rebound

On Tuesday, global stock markets were boosted by the prospect of a rate cut by the Federal Reserve. European stocks rose overall, with European bank stocks performing well. The three major US futures showed mixed movements, and oil prices rose for the second consecutive day.

Mixed Movements in US Futures

Before the US stock market opened, the three major futures showed mixed movements. Dow Jones futures rose by 0.2%, S&P 500 index futures rose by 0.1%, and Nasdaq 100 index futures fell by 0.04%.

Following weak US employment data last week, investors became more optimistic about the timing of a rate cut by the Federal Reserve, which boosted the US stock market.

Positive Performance of Bank Stocks Boosts European Stock Markets

The STOXX 600 index rose by 0.6%, the UK's FTSE 100 index rose by 1.04%, Germany's DAX index increased by 0.63%, and France's CAC 40 index rose by 0.36%.

UBS Group surged over 8% after announcing a return to profitability, while Credit Suisse Bank saw its stock price climb due to better-than-expected performance.

However, there are signs that the largest economy in Europe continues to weaken, with Germany unexpectedly experiencing a decline in factory orders in March. Beata Manthey, head of European stock strategy at Citigroup, pointed out that one of the concerns about European stocks lies in the automotive industry, with trade tensions being one of the issues of concern.

German semiconductor manufacturer Infineon Technologies lowered its revenue expectations, indicating continued weakness in demand from the automotive industry.

Oil Prices Rebound

Tensions in the Middle East remain high. According to Xinhua News Agency, although Hamas has accepted a ceasefire proposal, the Israeli military has announced an attack on Rafah, causing oil prices to rise for the second consecutive day.

Continuous updates in progress