- Palestinian officials say Israeli forces kill two in West Bank
- Football leagues, unions file EU complaint against FIFA in calendar dispute
- Nigeria boycott AFCON qualifier in Libya after 'inhumane treatment'
- India to recall top envoy to Canada: foreign ministry
- Hezbollah, Israeli troops in 'violent clashes' after drone strike
- China insists won't renounce 'use of force' to take Taiwan as drills end
- Painkiller sale plan to US gives France major headache
- Italy begins landmark migrant transfers to Albania
- Russia jails French researcher for three years
- 'Unsustainable' housing crisis bedevils Spain's socialist govt
- Stocks shrug off China disappointment but oil slides
- New Zealand 4-0 up in America's Cup but British show signs of life
- Russian prosecutor demands 3 years prison for French researcher
- 'Innocent' British nerve agent victim caught in global murder plot: inquiry
- Afghan Taliban vow to implement media ban on images of living things
- Russian prosecutor demands 3 years, 3 months jail for French researcher
- England ready for Pakistan's spin assault in second Test
- New Zealand's Ravindra excited for India Tests with father in crowd
- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- 'Stolen satire' feeds US election misinformation
- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
Markets climb as calm returns after sharp selloff
Stock markets rose Tuesday as calm returned following last week's rout, but analysts warned of more turmoil ahead because recession fears are here to stay.
Wall Street burst higher at the open after a three-day holiday weekend, the Dow surging 1.5 percent while the broad-based S&P 500 gained 1.9 percent and the tech-heavy Nasdaq shot up 2.4 percent.
European equities were up for a second straight day in afternoon trading but pared down some of their gains from the morning.
Oil prices extended gains on hopes of improving energy demand in key consumers China and the United States, while the euro climbed on the prospect of rising eurozone borrowing costs.
"Risk appetite has managed to recover for now, perhaps because we get a much needed-break from central bank decisions this week," IG analyst Chris Beauchamp told AFP.
"But while a bounce is overdue, it is probably only temporary."
There remains an overarching sense of gloom as traders speculate that the sharp lift in borrowing costs around the world will tip economies into recession.
The focus this week is on Federal Reserve boss Jerome Powell's two days of testimony to lawmakers in Washington, which will be closely watched for clues regarding the bank's plans for fighting surging consumer prices.
"Where we go from here depends largely on whether Federal Reserve Chair Powell spooks the markets with his pre-released comments and what inflation data from the UK shows tomorrow (Wednesday)," City Index analyst Fiona Cincotta told AFP.
The Fed announced a three-quarter percentage point interest rate hike last week, after inflation data days earlier had smashed forecasts and hit a four-decade high.
Several officials -- including at the Fed, Bank of England, Reserve Bank of Australia and European Central Bank -- have come out in recent days to flag a further tightening of borrowing costs.
Inflation has rocketed to multi-decade highs around the world on a host of factors, including the global supply crunch and the Ukraine conflict, which has fuelled strong gains for food and energy prices.
"These small recoveries in stock markets shouldn't provide any comfort," said Craig Erlam, senior analyst at OANDA trading platform.
"Recession is increasingly becoming the base case and so equities are vulnerable to further losses," he said.
- Key figures at around 1335 GMT -
New York - Dow: UP 1.5 percent at 30,320.71 points
London - FTSE 100: UP 0.3 percent at 7,140.45
Frankfurt - DAX: UP 0.2 percent at 13,297.77
Paris - CAC 40: UP 0.9 percent at 5,971.11
EURO STOXX 50: UP 0.6 percent at 3,489.08
Tokyo - Nikkei 225: UP 1.8 percent at 26,246.31 (close)
Hong Kong - Hang Seng Index: UP 1.9 percent at 21,559.59 (close)
Shanghai - Composite: DOWN 0.3 percent at 3,306.72 (close)
Euro/dollar: UP at $1.0547 from $1.0511 late Monday
Pound/dollar: UP at $1.2282 from $1.2253
Euro/pound: UP at 85.90 pence from 85.78 pence
Dollar/yen: UP at 136.21 yen from 135.07 yen
Brent North Sea crude: UP 1.1 percent at $115.38 per barrel
West Texas Intermediate: UP 1.9 percent at $110.07
burs-lth/jj
T.Ward--AMWN