Investors shrug off US sanctions plan for Iran, bitcoin powers on
U.S. investors remained undeterred by the prospect of expanded sanctions against Iran, as prices for the digital currency Bitcoin held steady. MSCI's global equities index climbed on Tuesday, buoyed by anticipation for economic data and Nvidia's upcoming earnings report. Bond yields slipped, while oil prices dropped to a one-week low due to traders perceiving the economic risks as outweighing the potential for military conflict.
Technology stocks, especially those in the AI sector like Nvidia, recovered some losses after a volatile Monday. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posted gains, while MSCI's global and Asia-Pacific indices also rose modestly. The U.S. dollar showed little movement, while bitcoin dipped slightly to around $78,000.
Meanwhile, gold prices saw a slight increase as investors awaited the Federal Reserve's inflation data, with gold futures edging down.
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