Stock Market Today: Live Updates

Reflecting strong global gains, European stocks surged on Tuesday morning, with the benchmark Stoxx 600 index up 1.2% as of 9:13 a.m. London time.

All sectors performed well, with some of the top gainers including those that were weak on Monday, such as travel and leisure.

Germany’s DAX rose 1.5%, while Britain’s FTSE 100 and France’s CAC 40 both rose about 1.3%.

Military shocks themselves tend to be short-lived in the market, said Sam Stovall, chief investment strategist at CFRA Research.

“Typically, the stock market initially reacts negatively to uncertainty by falling in the first day and month after an event, but then recovers and rises after 60 and 90 days,” Stovall said. he said.

The strategist said the development of oil prices in the coming days could determine whether the Israeli-Hamas war becomes a more prolonged headwind for the market.

“The U.S. dollar fell and stock prices rose even as oil prices surged 4.3% in the first trading day after the attacks,” Stovall said. “This suggests that the possibility of causing this is low.”

— Ha-Kyung Kim

Emily Rowland, co-chief investment strategist at John Hancock Investment Management, said that with U.S. Treasury yields at multi-year highs, it’s time to buy bonds.

“I’ve been doing this job for about 10 years, and this is actually the first time I’ve ever overweighted bonds in my portfolio,” Rowland said Monday on CNBC’s “Closing Bell.” “I need time,” he said. ”

Last week, the 10-year Treasury yield hit its highest level since 2007. However, Roland expects investors will need to secure higher yields as the Federal Reserve nears the end of its interest rate hike campaign.

“We all know that stocks are a much more powerful wealth synthesizer over time, so as we see this decline in bond yields continue, we’ll probably go back to overweight stocks. That’s certainly to be expected as the economy continues to contract, Roland said.

— Sarah Min

U.S. stock futures opened little changed Monday night.

Futures prices linked to the Dow Jones Industrial Average fell 4 points (0.01%).

The S&P 500 index also fell 0.01%, and the Nasdaq 100 futures index rose 0.03%.

— Ha-Kyung Kim