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Markets lose steam as commodities make gains

Squawk Box Live kept an eye on markets, which lost steam after a global rally that continued on Wall Street overnight.

The S&P 500 and Dow Jones Industrial Average both closed up near 1.8 percent after European stocks rallied 3 percent in Monday trade. However, the good mood wasn't carried over into a second day as Europe's markets opened lower.

Commodities gains were also cushioning markets Tuesday, with Brent crude trading in positive territory.

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