Stocks and equity-index futures gained while oil prices fell on speculation that an upcoming meeting between US President Donald Trump and Russian President Vladimir Putin could pave the way for ending the war in Ukraine and boosting global crude supply.
Contracts for European shares rose 0.2%, while S&P 500 futures edged up 0.1%. In Asia, shares climbed 0.3%, with lithium stocks outperforming, though most chipmakers retreated. Oil declined 0.5% and gold also slipped, while the dollar weakened 0.1%. Bitcoin surged as much as 3.3%, surpassing $122,000 and coming within reach of a record high.
The gains come as financial markets take comfort from the prospect of a resolution to the three-year war in Ukraine, following a burst of weekend diplomatic activity. European leaders are seeking talks with Trump ahead of his scheduled meeting with Putin in Alaska on Friday.
Trump has previously threatened sanctions against countries—including India—that continue to purchase Russian oil, a stance that prompted Putin to hold phone discussions with Indian Prime Minister Narendra Modi and other global leaders.
There was no cash trading in US Treasuries during Asian hours due to a holiday in Japan. Investors will be closely watching the Alaska talks for signals on geopolitical tensions, sanctions policy, and potential shifts in global commodity flows.
