U.S. stocks rally again as world markets surge

NEW YORK, New York - U.S. stocks were on the move higher again Tuesday as world equity markets continued their advance in an towards record territory.

Goldman Sachs' David Kostin told CNBC Tuesday he expects earnings will be higher this year even amid concerns of margin pressures in the face of higher inflation.

"Our forecast is that the market rises slowly in line with expectations for earnings," Kostin said. "Margins will be roughly flat, and then ultimately it's a little bit about economic growth will drive sales, and that's largely the reason for earnings to be higher for this year."

In the realm of U.S. equities, Tuesday's trading session concluded with significant gains across major stock indices, reflecting positive sentiment among investors.

The Standard and Poor's 500, a widely watched benchmark for the U.S. stock market, surged by 59.95 points, reaching 5,070.55 at the closing bell, marking an impressive increase of 1.20 percent.

Similarly, the Dow Jones Industrial Average (DJI) exhibited notable growth Tuesday, climbing by 263.71 points to settle at 38,503.69, representing a gain of 0.69 percent.

Meanwhile, the technology-heavy NASDAQ Composite outperformed its counterparts, posting a robust increase of 245.33 points, closing at 15,696.64, up by 1.59 percent.

Market participants reacted to a variety of factors, including encouraging corporate earnings reports, optimism surrounding economic recovery efforts, and favorable economic data. Additionally, the Federal Reserve's commitment to maintaining accommodative monetary policies to support the economy further buoyed investor confidence.

Trading volumes were robust across the board, with billions of dollars' worth of shares changing hands. The buoyant market performance underscores investors' resilience amid ongoing geopolitical uncertainties and concerns about inflationary pressures.

As the trading week progresses, market participants will closely monitor developments in fiscal policy, monetary policy, and global economic indicators for further cues on market direction.

Overall, Tuesday's trading session witnessed a broad-based rally, reaffirming investors' confidence in the resilience of the U.S. stock market amidst an exuberant global landscape.

Global Forex Market Update: Major Currency Pairs React to Weakening of U.S. Dollar on Tuesday

On Tuesday, the world foreign exchange market saw major movements among major currency pairs, with the U.S. dollar taking a hiding, reflecting ongoing economic trends, and a dipping in U.S. Treausry yields.

Starting with the euro, it appreciated against the U.S. dollar as the EURUSD pair traded at 1.0703, marking an increase of 0.47 percent.

Against the Japanese yen, the USDJPY pair saw a slight decline, trading at 154.80 yen, down by 0.02 percent.

Similarly, the dollar depreciated against the Canadian dollar, with the USDCAD pair trading at 1.3660, representing a decrease of 0.29 percent.

The British pound strengthened against the dollar Tuesday, as the GBPUSD pair traded at 1.2449, up by a hefty 0.81 percent.

Meanwhile, the U.S. dollar experienced marginal losses against the Swiss franc, with the USDCHF pair trading at 0.9115, down by 0.05 percent.

In the Pacific region, both the Australian dollar and the New Zealand dollar appreciated against the greenback. The AUDUSD pair traded at 0.6486, reflecting a gain of 0.58 percent, while the NZDUSD pair saw a modest increase, trading at 0.5931, up by 0.22 percent.

Global Markets Mostly Close Higher, China, New Zealand, South Korea, and in particular Egypt, Go Against Trend

In the world of international finance, Tuesday saw a mixed bag of results as major indices closed with varied movements across the globe.

CANADA

In the Canadian market, the S&P/TSX Composite index also witnessed positive movement, rising by 139.76 points to reach 22,011.72 by the end of the trading day, reflecting a gain of 0.64 percent.

UNITED KINGDOM

In London, the FTSE 100 edged up by 20.94 points, closing at 8,044.81.

EUROPE

Similarly, the DAX PERFORMANCE-INDEX in Frankfurt soared by 276.85 points, reaching 18,137.65, representing a gain of 1.55 percent.

Meanwhile, the CAC 40 in Paris experienced a more modest increase of 65.42 points, closing at 8,105.78, marking a rise of 0.81 percent.

The ESTX 50 PR.EUR in Europe climbed by 71.32 points Tuesday, ending at 5,008.17, a rise of 1.44 percent.

The Euronext 100 Index gained 15.91 points, reaching 1,518.62, representing a growth of 1.06 percent.

Similarly, the BEL 20 in Belgium rose by 27.45 points, closing at 3,890.71, an increase of 0.71 percent.

ASIA

In Asia, the Nikkei 225 in Tokyo climbed by 113.55 points on Tuesday, ending the day at 37,552.16, a growth of 0.30 percent.

Likewise, the HANG SENG INDEX in Hong Kong surged by 317.24 points, reaching 16,828.93, which equated to an impressive increase of 1.92 percent.

However, in China, the SSE Composite Index in Shanghai experienced a slight downturn, closing at 3,021.98, down by 22.62 points or 0.74 percent.

Similarly, the Shenzhen Index dropped by 56.00 points, settling at 9,183.14, representing a decline of 0.61 percent.

In Singapore, the STI Index increased by 47.55 points Tuesday, closing at 3,272.72, up by 1.47 percent.

In India, the S&P BSE SENSEX edged up by 89.84 points, ending at 73,738.45, a growth of 0.12 percent.

India's NIFTY 50 inched up by 31.60 points, closing at 22,368.00, a modest increase of 0.14 percent.

In Malaysia, the FTSE Bursa Malaysia KLCI rose by 2.05 points, closing at 1,561.64, marking a modest increase of 0.13 percent.

Going against the trend, the KOSPI Composite Index in South Korea on Tuesday dropped by 6.42 points, settling at 2,623.02, a decline of 0.24 percent.

In Taiwan, the TSEC weighted index increased by 188.06 points, closing at 19,599.28, representing a rise of 0.97 percent.

OCEANIA

Turning to Australia, the S&P/ASX 200 rose by 34.30 points, ending the session at 7,683.50, a growth of 0.45 percent.

In New Zealand, the S&P/NZX 50 INDEX GROSS experienced a moderate decline of 49.52 points Tuesday, closing at 11,803.28, down by 0.42 percent.

AFRICA

In other parts of the world, the Top 40 USD Net TRI Index in South Africa increased by 34.33 points, closing at 3,822.59, up by 0.91 percent.

MIDDLE EAST

Meanwhile, in Israel, the TA-125 climbed by 23.38 points, ending the day at 1,957.36, up by 1.21 percent.

In Egypt, the EGX 30 Price Return Index experienced a notable decrease of 1,367.20 points, closing at 26,777.00, marking a decline of 4.86 percent.