U.S. benchmark crude oil prices are expected to resume their march towards triple digits as stock markets respond to improved economic data in the U.S. and China, according to CNBC's latest oil market sentiment survey.
As confidence returns to global markets, investors appear to be using the cheap yen once again to fund investments in risky assets – a trade that is likely to give the battered Japanese currency another boot lower in the months ahead, analysts said.
Strong earnings are helping drive stocks near record levels. CNBC's Jim Cramer said "positivity in this market is overwhelming."
Asian shares rose on Tuesday as recent selling drew bargain hunters ahead of more U.S. economic data and a Federal Reserve policy decision later in the week.
The Dow Jones Industrial Average could peak as high as 20,000 four years from now, JPMorgan Chief U.S. Equity Strategist Thomas Lee told CNBC on Monday.
Growing optimism about the economic outlook and a string of upbeat earnings has put global equity markets on a strong footing at the start of the year.But hold on, say strategists, pointing to a risk that investors are underestimating: a U.S. budget sequester.
The return of risk appetite has boosted European stock markets, as more investors have rotated out of safe-haven bonds, and new research shows sentiment towards European equities is now at the best level in several years.
Wall Street closed mixed on Monday, as stocks struggled to extend the January rally for another session. Apple led tech stocks higher with a 2 percent rebound while Caterpillar gave support to blue chips following its earnings report.
European equities touched fresh multi-month peaks on Monday, with technical charts pointing to a continued slow grind higher.
Japan's Nikkei breached the 11,0000 mark briefly as the yen continued to weaken.
U.S. Treasury yields rose for a third session on Monday after a gauge of planned U.S. business spending rose in December, fueling expectations economic growth may be picking up.
Brent crude oil traded near three-month highs around $113 per barrel on Monday, buoyed by economic optimism and ahead of a U.S. Federal Reserve meeting and employment data.
Gold edged lower on Monday as investors remained cautious ahead of an eagerly awaited U.S. Federal Reserve meeting, which should disclose more details on the Fed's quantitative easing policy.
The dollar fell from 2 1/2-year peaks against the yen on Monday in subdued trading as investors locked in profits after the greenback's recent rally.
Wall Street's bull could take another run at the psychologically important 1,500 level as early as Friday, but that's a level that could also trigger a pause, analysts say.
U.S. stock index futures were higher Friday, a day after the S&P 500 logged its seventh-straight rally, following a batch up upbeat earnings reports and ahead of a key housing report.
Even as Apple crashes and burns, the market is protected by a firewall of factors that could help stocks break through to new highs.
U.S. Treasurys yields surged to their highest in three weeks on Friday after data showed European banks are repaying more emergency loans than expected, suggesting the region is healing and reducing demand for safe-haven debt.
Weak GDP data for the U.K. wasn't enough to stop European shares rising on Friday as Germany's DAX Index reached a level not seen since January 2008 after business climate data was released.
Gold prices fell to a two-week low after the European Central Bank said banks would repay 137 billion euros ($183.2 billion) in cheap loans, which reassured investors the euro zone banking system was stabilizing.
European shares were flat on Friday as talks over the "fiscal cliff" stalled.
European shares closed lower on Wednesday for a third consecutive session, with resurging worries about the global economic outlook undermining investor sentiment.
Standard & Poor's decision to cut Spain's credit rating to one notch above junk status is weighing on markets.