Canada's main stock index opened higher on Tuesday, in line with a solid European and Asian trading session, as a pause in bond yields increased appetite for riskier equities. At 9:30 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 325.36 points, or 1.72%, at 19,206.55.
The tech-heavy Nasdaq led Wall Street higher on Tuesday as easing U.S. Treasury yields boosted megacap growth and technology stocks, while investors awaited more economic data to gauge the Federal Reserve's rate hike path.
* Megacap growth and tech shares bounce 1.5% to 3% * Tesla rebounds after worst selloff in four months. * Rivian jumps on reaffirming FY deliveries view; lifts peers. * Futures up: Dow 1.32%, S&P 1.59%, Nasdaq 1.89% By Ankika Biswas and Medha Singh.
The pound gave up much of its early gains on Tuesday but remained narrowly in the green after finance minister Kwasi Kwarteng's dramatic U-turn on some tax cuts. Sterling was last up 0.1% to $1.1331, down from a session high of $1.1428. The euro was up 0.54% against the pound at 87.25 pence.
* Britain scraps part of tax plan; markets relieved. * Investors start to mull central bank "pivot" on rates. * Dollar falls for fifth day. By Amanda Cooper.
Futures tracking Canada's main stock index jumped on Tuesday, in line with a solid European and Asian trading session, as a pause in bond yields increased appetite for riskier equities after last quarter's selloff on recession fears. December futures on the S&P/TSX index were up 1.7% at 07:11 a.m. ET after TSX's biggest one-day gain since April 2020 in the previous session.
The dollar slid on Tuesday, as U.S. Treasury yields paused in a relentless climb higher, providing brief relief to share markets and helping the euro in particular move further off multi-year lows. The Australian dollar was also in focus, sinking after the nation's central bank surprised markets with a smaller-than-expected interest rate hike.
* Megacap growth and tech shares bounce between 2% and 3.6% * Tesla rebounds after worst selloff in four months. * Rivian jumps on reaffirming FY deliveries view; lifts peers. * Futures up: Dow 1.51%, S&P 1.78%, Nasdaq 2.20% By Medha Singh and Ankika Biswas.
* Britain scraps part of tax plan; markets relieved. * Reserve Bank of Australia surprises with a small hike. * Lower Treasury yields weigh on dollar. By Amanda Cooper. Global stocks rallied for a second day on Tuesday, after Britain's decision to ditch part of a controversial tax-cut plan and slightly paler expectations for aggressive central bank action returned some confidence to investors.
STOCKS: The benchmark BSE Sensex rose 1,276.66 points, or 2.25%, to 58,065.47, while the broader NSE index gained 383 points, or 2.27%, to 17,270.35, led by gains in banks and metal companies, as an attempted bounce in global equities and upbeat quarterly updates from companies lifted sentiment ahead of the corporate earnings season.
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