Global Markets Rally Amid Geopolitical Tensions and Positive Earnings

Global stocks rose as positive earnings offset weak tech performances, with oil prices spiking 5% due to U.S. sanctions on Russia. European and Chinese equities showed resilience, while investors eye rate cuts from the Federal Reserve. The markets were buoyed by rising oil prices and quantum computing interests.

Global stocks experienced a lift on Thursday, driven by encouraging earnings that brightened the mood dampened by underperforming tech megacaps. The oil market saw significant movement, with prices surging 5% after the U.S. imposed sanctions on key Russian companies, Rosneft and Lukoil, in response to ongoing conflict in Ukraine.

European markets demonstrated resilience, brushing off earlier declines in Asian and U.S. markets. Strong earnings reports bolstered domestic indices, and the STOXX 600 ended the day up 0.3%. However, the MSCI All-World index saw a slight downturn, marking its third consecutive decline this week.

Investors remain cautious amid geopolitical uncertainties and trade tensions, but remain optimistic about potential rate cuts from the Federal Reserve. The prospect of a Fed rate-cutting spree continues to mitigate market anxieties, while oil and tech sectors provide opportunities amid current volatilities as markets react to quantum-computing strides.

(With inputs from agencies.)