Global Markets Rally Amidst Cease-Fire Talks and Economic Data

Global stocks rose as U.S. and Russian presidents prepared for Ukraine cease-fire talks, dampening geopolitical tensions. Market gains were supported by strong European stocks and positive data from China, countering weak U.S. retail sales and dollar concerns. Oil and gold prices remained high amid Middle East uncertainties and economic data expectations.

Wall Street marked a positive turn on Monday with stocks rising as much-anticipated talks between the U.S. and Russia aimed at resolving the Ukraine conflict inched closer. Despite weak U.S. retail sales dampening the mood, global markets found solace in robust European stocks and encouraging economic reports from China.

Investors are closely watching for developments from a potential Russia-Ukraine cease-fire which could reduce geopolitical uncertainty and drive market optimism. Similarly, European markets outperformed their global peers, reflecting confidence stemming from Germany's new debt reform plans and potential economic stimulus.

Oil prices climbed due to Middle Eastern tensions and U.S. assaults on the Yemeni Houthis, raising supply concerns. Meanwhile, gold held its ground near $3,000, showcasing investor anticipation of the upcoming Federal Reserve meeting and its subsequent impact on interest rates and economic outlook.

(With inputs from agencies.)