This week has seen a significant turnaround for U.S. equities, with futures indicating gains that would push the S&P 500 into positive territory for the week. The Dow Jones Industrial Average rose over 270 points to achieve a record high on Thursday. This recovery comes despite recent fluctuations driven by concerns in the bond market.
In Asia-Pacific, markets are also trending upwards as investors consider ongoing diplomatic efforts between the U.S. and Iran, although oil prices remain high due to reports about Iran's uranium enrichment plans.
In corporate news, luxury brand Richemont reported strong full-year sales and announced a new buyback program, while Estée Lauder's shares are expected to rise after the company ended merger discussions with Puig, which would have created a nearly $40 billion entity.
Additionally, travel stocks are under scrutiny due to ongoing jet fuel supply chain issues, particularly affecting China's major airlines, which lack hedging against fuel price fluctuations