Global markets were on the rise after a tech-fuelled rally lifted the Nasdaq to a record close yesterday, with lower ​oil prices offering further support even as longer-dated Treasury yields hovered ‌near multidecade highs.

Wall Street futures were in positive territory, while TSX futures followed sentiment higher.

In Canada, Halifax-based Emera is bidding to build a national champion in the utility sector by merging with Calgary’s Canadian Utilities and parent ATCO in $35-billion union, Andrew Willis reports.

On Wall Street, markets are watching earnings from Constellation Brands Inc. RPM International Inc. and Lamb Weston Holdings Inc.

“The rally in the market was tech-led once again, with the ‌marginal easing of ​interest rate uncertainty along with a slight ‌moderation in geopolitical risk allowing market participants to focus on the extraordinary earnings growth being delivered by AI names,” said ​Kyle Rodda, a senior analyst at Capital.com.

Overseas, the pan-European STOXX 600 was up 0.99 per cent in morning trading. Britain’s FTSE 100 rose 0.67 per cent, Germany’s DAX advanced 0.87 per cent and France’s CAC 40 gained 0.75 per cent.

In Asia, Japan’s Nikkei closed 1.05 per cent higher, while Hong Kong’s Hang Seng climbed 1 per cent.

Oil prices fell as resilient ​Middle Eastern crude exports and a G7 ‌emergency stockpile release eased supply concerns, though lingering security risks in the region capped further losses.

Brent crude futures were down 1.8 per cent to US$98.50 a barrel. West Texas Intermediate (WTI) crude futures fell 2.05 per cent to US$87.60 a barrel.

“Shipping data shows regional crude exports actually exceeded prewar levels on several days in late September. Alternative routes and logistical adjustments have somehow allowed producers to ​keep barrels moving despite the disruption around Hormuz,” ‌said Priyanka Sachdeva, head of market insights at Phillip Nova.

“However, calling this a full normalization of supply doesn’t look justified quite yet ... There have been renewed attacks on tankers around the Strait of Hormuz, and the number of incidents has increased in recent days. ‌This means ​that while barrels are ‌still moving, the cost, insurance, routing, and security risks of moving them remain ​elevated.”

In other commodities, spot gold slipped 0.3 per cent ⁠to US$4,127.87 an ounce. U.S. gold futures were little changed at US$4,155.30.

The Canadian dollar weakened against its U.S. counterpart.

The day range on the loonie was 69.99 US cents to 70.20 US cents in early trading. The Canadian dollar was down about 3.39 per cent against the greenback over the past month. It traded at $1.4269 per US$1.

The U.S. dollar index, which weighs the greenback against a group of currencies, slid 0.14 per cent to 102.03.

The euro gained 0.22 per cent to US$1.1248. The British pound climbed 0.17 per cent to US$1.3245.

In bonds, the yield on the U.S. 10-year note was last down at 5.279 per cent.

Euro zone retail sales for August

8:30 a.m. ET: U.S. trade balance for August.

8:30 a.m. ET: Canada’s international merchandise trade for August.

10 a.m. ET: Canada’s Ivey PMI for September.

With Reuters and The Canadian Press