European stocks may open higher on Tuesday amid improved risk appetite after the U.S. retail sales report for January showed a rebound and the EU said it is now up to MPs to decide the next steps for Brexit.
Asian markets remain broadly higher, with benchmark indexes in Hong Kong, Japan and South Korea climbing 1-2 percent. The dollar weakened, helping gold prices push higher.
Oil prices continued to rise on optimism over output cuts led by producer group OPEC.
The British pound jumped after British Prime Minister Theresa May won last minute assurances from the EU for her Brexit deal before it goes to a crucial vote later today.
The U.S. economic calendar remains light today, with trading likely to be influenced by reaction to the Labor Department’s closely-watched report on consumer price inflation for February.
Overnight, U.S. stocks rebounded from five straight sessions of declines after the release of better-than-expected January U.S. retail sales numbers.
The Dow Jones Industrial Average rose 0.8 percent despite a steep drop by Boeing, while the tech-heavy Nasdaq Composite climbed 2 percent and the S&P 500 added 1.5 percent.
European markets rose on Monday as investors cheered reports that Deutsche Bank and Commerzbank are in talks for a merger.
The pan European Stoxx 600 climbed 0.8 percent. The German DAX gained 0.8 percent, France’s CAC 40 index rose 0.7 percent and the U.K.’s FTSE 100 added 0.4 percent.
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