Market Surge: Global Stocks Rally Amid Rate Cut Speculations

Global stocks rallied on Monday buoyed by anticipation of a potential Federal Reserve rate cut in December. European markets followed Wall Street’s gains while U.S.-Ukraine discussions affected the oil markets. Attention is also on yen intervention concerns and upcoming U.S. and UK economic reports.

Global stocks witnessed an upward trend on Monday as speculation intensified over the possibility of a December rate cut from the Federal Reserve. This development provided a reprieve to investors concerned about tech sector valuations, which have been causing market instability over the past month.

Analysts are closely monitoring the release of U.S. retail sales and producer prices expected later in the week. Additionally, British finance minister Rachel Reeves is set to present her highly anticipated budget on Wednesday, drawing significant attention from investors and market participants.

On the geopolitical front, the U.S. and Ukraine's ongoing efforts to resolve the conflict with Russia appear to be influencing oil prices, amidst potential sanctions relief on Russian exports. European stocks joined the rally seen on Wall Street, despite setbacks in the defense sector, while the yen's recent performance sparked concerns over possible government intervention.

(With inputs from agencies.)