Market Steadies Amid Focus Shift to Corporate Earnings and Economic Data

World markets stabilized as investors redirected their attention to corporate earnings and economic data following Joe Biden's withdrawal from the U.S. presidential race. While Vice President Kamala Harris campaigned in Wisconsin, the focus moved to earnings reports from major companies like Tesla and Alphabet, affecting both Asian and global markets.

World markets steadied on Tuesday as investors looked beyond Joe Biden's exit from the U.S. presidential race, turning their focus to corporate earnings and economic data.

Vice President Kamala Harris will campaign in Wisconsin as the Democrats' presumed nominee. The pan-European STOXX index was up 0.1% while U.S. futures were down 0.2% after a 1.1% rise in the S&P 500 on Monday.

'Markets appear to be in a bit of a holding pattern having now digested the weekend news of Biden quitting the presidential race,' said Michael Brown, senior strategist at broker Pepperstone in London. Investors will be monitoring polls closely to gauge potential shifts in volatility and equity markets.