Stocks climb as oil prices dip heading into US CPI print

World stocks experienced a rise on Tuesday as oil prices dropped following US President Donald Trump's statement that he plans to refrain from new military strikes against Iran. Brent crude futures fell over 2 percent, dipping below the $90 per barrel mark for the first time since late August. The pan-European STOXX 600 index climbed 0.5 percent, nearing its all-time high, as lower oil prices alleviated some inflation concerns.

Joost van Leenders, a senior investment strategist, noted that Trump's desire to avoid congressional interference before the midterms may have influenced his decision. The slump in oil prices helped lift stocks after last week's decline, driven by the Democrats' victory in the US midterm elections, which raised concerns about potential new regulations impacting the AI trade.

Stocks from South Korea and Japan also rose, with the MSCI Asia-Pacific index moving away from its seven-month low. Earnings reports from tech companies, including CoreWeave, will be a test for markets as investors evaluate the cost and profitability of AI investments. Meanwhile, Anthropic, an AI company, is expected to launch its IPO, a crucial event for the AI trade.

Nvidia, the world's second-most valuable company, remains in focus as its board investigates possible foreign intelligence targeting its CEO, leading to a 2 percent gain in premarket trading.