European stocks advanced on Tuesday as regional markets cemented their positive start to the week.
The pan-European Stoxx 600 closed the session preliminarily 0.9% higher, with most major bourses and sectors in positive territory at the closing bell in London.
The moves come after major U.S. averages rebounded on Monday, driven by strength in the artificial intelligence trade and renewed hopes of a Federal Reserve interest rate cut. Asia-Pacific markets also traded higher overnight, boosted by Wall Street's rally.
Traders continue to watch for any news that can affect the Fed's upcoming monetary policy decision. Markets are pricing in a more than 80% chance of a quarter percentage point cut from the Fed in December, according to the CME FedWatch Tool.
The probability has risen since New York Fed President John Williams said last Friday that there was room to lower rates "in the near term." San Francisco Fed President Mary Daly told the Wall Street Journal on Monday that she supports lowering rates due to labor market concerns.
Source : CNBC
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