Investors Turn Back to Global Equity Markets as Military Tensions Ease
This is what you need to know before the bell:
1. European stocks are set to rebound from some of their steepest losses of the year Wednesday as investors return to global equity markets following the easing of military tensions around North Korea and the broader Asia region.
2. Global oil prices continued to drift lower after touching a 5-week low in Tuesday's trading session, although U.S. gasoline prices have gained more than 10% over the past two days owing to the shutdown of around 20% of the Gulf region's refining capacity in the wake of Tropical Storm Harvey.
3. Stocks overnight in Asia booked solid gains after a gradual rally on Wall Street lifted U.S. benchmarks into positive territory by the end of the session as optimism returned after an uncharacteristically disciplined response to North Korea's provocative missile test by President Donald Trump.
4. Grab, the ride sharing company that's challenging Uber Technologies in Asia, secured its second major investment in as many months Wednesday after the world's biggest carmaker said it would take a stake in the Singapore-based group. Toyota Motor Corp. (TM) - Get Report investment arm, Toyota Tsusho Crop., said it has taken an undisclosed stake in Grab through its Next Technology Fund.
5. Wall Street looks set to build on yesterday's gains at the opening bell, according to early futures prices, with the Dow Jones Industrial Average likely to add around 25 points at the start of trading and the broader S&P 500 called 3.3 points, or 0.14% higher, to kick off the Tuesday session.
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