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European stocks broke a four-session losing streak on Monday, buoyed by the commodities sector after upbeat manufacturing data from China and a continued rally in oil prices. Banks also helped to lift the trading mood, rising on hopes of higher interest rates after hawkish comments from central bankers last week.
U.S. stocks on Monday closed the first day of trading in July and the second half of 2017 in positive territory-though off the day's best levels-on the back of a rally in energy and financials, but tech shares lagged behind. Gains accelerated in an abbreviated session ahead of the Fourth of July holiday on Tuesday, after an upbeat report on manufacturing.
More stock gains were posted early Tuesday in Asia following a holiday-shortened session in the U.S., where fresh selling in tech names continued to weigh across the Pacific. Meanwhile, South Korean stocks saw a brief, and modest, selloff after North Korea launched another ballistic missile. The Kospi SEU, -0.24% , which was fighting to stay in positive territory ahead of the news, was recently down 0.1% after dipping 0.4% earlier.
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