Global Markets-Stocks advance on tech strength; Mideast in focus

Global stocks rose on Tuesday, underpinned by gains in technology stocks, as investors waited for corporate earnings this week that could test an AI trade under pressure, while mediation efforts in the Middle East kept oil prices in check.

Gains in tech stocks kept Europe's STOXX 600 afloat, while futures tracking the tech-heavy Nasdaq led gains on Wall Street with a 1.3% rise. Chip stocks including those of Micron Technology and Marvell were about 6% higher in premarket trading.

The U.S. and Iran traded fresh fire, and Yemen's Tehran-aligned Houthis said they would impose a naval blockade on Saudi Arabia, which risks further disrupting energy supplies and pushed oil back above $90 a barrel. Gains in crude were limited by optimism that the two sides could revive a fragile ceasefire.