Global Markets Surge Amid Earnings Reports and Political Turmoil

Global stock markets rose as investors focused on upcoming earnings reports from U.S. tech giants, while oil prices plummeted due to eased fears of broader Middle Eastern conflict. Political dynamics in the U.S. and Japan also played a significant role in market movements.

Global stock indexes experienced an uptick on Monday as investors anticipated earnings reports from several major U.S. tech companies. Meanwhile, oil prices fell significantly after a weekend strike by Israel on Iran avoided targeting oil and nuclear facilities, alleviating fears of a broader conflict.

U.S. earnings season is underway, featuring reports from major players such as Alphabet, Microsoft, Meta Platforms, Apple, and Amazon. Additionally, the U.S. jobs report for October is expected on Friday, amid a tight presidential race between Vice President Kamala Harris and former President Donald Trump.

Benchmark 10-year U.S. Treasury yields approached a three-month high in anticipation of upcoming economic data and the election. Meanwhile, the Japanese yen weakened against the dollar after Japan's ruling coalition suffered electoral losses, leading to political and monetary uncertainty.

(With inputs from agencies.)