European Shares Poised For Steady Open

(RTTNews) - European stocks are seen opening broadly higher on Tuesday after an AI-fueled rally on Wall Street overnight.

An index of U.S. semiconductor stocks jumped over 4 percent on Monday amid fresh optimism around global semiconductor demand after Meta's new AI agent app Muse rocketed to the top of the App Store in just ten days, reviving investor enthusiasm for the chip sector.

Asian stocks were moving higher in cautious trade, with Japanese markets closed for a holiday.

U.S. President Donald Trump is set to address UN General Assembly later today and is expected to meet his Ukrainian counterpart Zelenskyy on Tuesday as diplomacy falters over wars in Ukraine and the Middle East.

As the Saudi-Houthi conflict rages on, Trump is expected to meet Gulf leaders impacted by the war with Iran to discuss the conflict and focus on plans for a postwar strategy.

Traders also await the outcome of the Trump-Xi meeting in Washington on Thursday, with trade, AI and geopolitics dominating the agenda.

The U.S. dollar weakened slightly in Asian trade amid risk-on sentiment prevailing in financial markets. Gold was subdued at $4,332 an ounce due to rate-hike bets.

Brent crude futures rose more than 1 percent to $101.80 a barrel after closing 3.4 percent lower in the previous session on hopes for diplomatic efforts to end the U.S.-Iran war and signs of recovering Saudi oil exports.

Saudi Aramco loaded about 14 million barrels of crude oil on seven supertankers inside the Mideast Gulf on Sunday, according to data from TankerTrackers.com.

The Trump administration has proposed investing $5 billion in a new fund that would help Middle East countries rebuild energy infrastructure damaged in the Iran war, the Wall Street Journal reported.

U.S. stocks rallied overnight as oil prices slumped and the yield on 10-year bond dropped below the 5 percent mark on hopes for a potential breakthrough in Middle East talks at a UN meeting this week.

The tech-heavy Nasdaq Composite soared 2.3 percent to close at a record high, lifted by gains in AMD and other AI heavyweights.

The S&P 500 surged 1.5 percent and the Dow gained 0.7 percent despite hawkish Fed comments, with Chicago Fed President Austan Goolsbee voicing concern that inflation pressure is spreading beyond tariffs and energy, potentially requiring more aggressive and front-loaded rate hikes.

European stocks closed firmly higher on Monday amid easing inflation concerns and hopes of a resumption in U.S.-Iran negotiations.

The pan-European STOXX 600 climbed 1 percent. The German DAX surged 1.1 percent, France's CAC 40 added 0.9 percent and the U.K.'s FTSE 100 advanced 0.8 percent.