15 April 2026
US stocks rallied on Tuesday amid hopes of geopolitical de-escalation. Investors also assessed US macro data and bank earnings. The S&P 500 rose 1.2%, while the tech-heavy Nasdaq gained 2.0%
US Treasuries extended gains as US PPI came in below expectations and oil prices dropped. 10-year yields fell 4bp to 4.25%.
European stocks rose on Tuesday amid hopes of easing geopolitical tensions. The Euro Stoxx 50 gained 1.3%. The German DAX also rose 1.3% and the French CAC closed 1.1% higher. In the UK, the FTSE 100 was up 0.2%.
European government bonds rose. 10-year German bund yields fell 7bp to 3.02% and 10-year French bond yields dropped 9bp to 3.66%. In the UK, 10-year gilt yield fell 9bp to 4.78%.
Asian stock markets traded mostly higher on Tuesday, led by gains in AI tech shares, as market focus shifted toward corporate earnings. Lower oil prices amid investor optimism over easing geopolitical tensions supported market sentiment. Japan’s Nikkei 225 rallied 2.4% and Korea’s Kospi surged 2.7%. China’s Shanghai Composite and Hong Kong’s Hang Seng gained 1.0% and 0.8%, respectively. The Indian market was closed for a public holiday.
Crude oil prices dropped on Tuesday. WTI crude for May delivery settled 7.9% lower at USD91.3 a barrel.
In the US, the NFIB Index of Small Business Optimism fell to 95.8 in March 2026, the lowest since April 2025, marking the third consecutive month of decline, driven by high inflation, specifically rising energy costs. PPI rose by less than expected, up 0.5% mom in March, against the consensus for a 1.1% mom gain. This followed a 0.5% mom increase in February. March’s increase was driven by energy – excluding food and energy, core PPI was up 0.1% mom.
China’s goods trade surplus narrowed sharply to USD51bn in March from USD91bn in February as export growth slowed while imports expanded strongly. Exports pulled back following a surge in January-February partly due to holiday timing/ seasonality distortions, but the underlying trend held up aided by continued strength in high-tech and green products. Meanwhile, the import value was boosted by stronger energy and commodity imports and tech-related demand.
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