European stocks are seen opening higher on Tuesday after U.S. Senator Susan Collins said a group of Republican U.S. senators held productive discussions with Democratic President Joe Biden about Covid-19 relief.
There were areas of agreement in the White House meeting, while "the president also reiterated his view that Congress must respond boldly and urgently," White House Press Secretary Jen Psaki said.
Asian markets are moving higher as silver dipped from an eight-year high, helping ease some of last week's market jitters over a retail trading frenzy.
The dollar hovered near a seven-week high as the euro slumped on weak German retail sales data. Gold held steady while oil prices rose amid signs that major producers were cutting crude output in line with their commitments on restraint.
U.S. stocks rallied overnight as the Reddit retail frenzy turned its attention to silver and Covid-19 relief talks progressed on Capitol Hill.
The Dow Jones Industrial Average rose 0.8 percent, the S&P 500 climbed 1.6 percent and the tech-heavy Nasdaq Composite soared 2.6 percent.
European stocks ended on a buoyant note Monday, with gains in the mining sector and positive vaccine news helping underpin sentiment.
The pan European Stoxx 600 rose 1.2 percent. The German DAX gained 1.4 percent, France's CAC 40 index advanced 1.2 percent and the U.K.'s FTSE 100 added 0.9 percent.
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