Investor sentiment is buoyed as AI-related fears that triggered Monday's market downturn begin to dissipate, leading to a rebound in Nasdaq futures and a notable premarket surge in Nvidia shares. European equities are also on the rise, with the Stoxx 600 poised for a record close, bolstered by strong earnings reports. Meanwhile, the dollar gains strength amid concerns over potential US trade tariffs, making it more attractive compared to other major currencies like the yen and euro. This currency movement is accompanied by a rise in US 10-year Treasury yields, indicating a shift from bonds to equities and riskier assets.
Oil prices are on the upswing, reflecting either positive demand forecasts or geopolitical tensions, which align with the broader economic optimism. In contrast, gold prices remain steady, often a sign of mixed market sentiment or a counterbalance to currency and yield fluctuations. Bitcoin's upward trajectory suggests a sustained interest in alternative assets amid ongoing market volatility.
As of 05:51 on January 28, Brent crude oil (CO1) is trading at $77.35, up from its last close of $76.18. This increase aligns with the broader market trends of rising oil prices and reflects the current economic sentiment.