In Anticipation of Fed, Stocks Rise, Oil Stays Steady – Europe Market Wrap

Stocks soared throughout the world as strong fluctuations in oil markets calmed ahead of Wednesday’s Fed meeting.

S&P 500 futures rose 0.5% after the benchmark notched its first back-to-back gains since the start of the Iranian war. Brent crude was barely changed at $103 per barrel, with the tightest trading range this month. Global bonds advanced as traders reduced expectations of tighter central bank policies. The Dollar was a hat.

Europe’s Stoxx 600 reached its highest level in almost a week. Asian stocks surged 2%, led by gains in South Korea’s Kospi, where Samsung. soared more than 7%.

Markets remain on high alert due to the Middle East war and the fear that a near-closure of the Strait of Hormuz may fuel inflation. Investors are now focused on how policymakers will respond, as the Fed is expected to keep interest rates steady for the second consecutive meeting.

Renewed optimism for AI drove technology stocks higher ahead of memory chipmaker Micron’s earnings due after the close. The stock has risen more than 60% this year, ranking sixth in the S&P 500 Index, following a 239% increase in 2025.