James Gruber

It came despite news of RBA Deputy Governor Andrew Hauser speaking in New York on Tuesday morning, suggesting Australians will suffer a big income shock from the oil price spike triggered by the war.

It, quote, is the central banker's nightmare.

Inflation up, activity down.

Yesterday, miners rose nearly 2% to their highest level in more than a month and snapped a three-day losing streak on the back of robust iron ore prices.

Technology stocks added 3.4%, mirroring the rise in their US peers, while energy stocks added 0.3%.

Today might be a different story for oil stocks, given the drops in crude prices overnight, while technology shares may continue their gains, given the positive lead from the Nasdaq overnight.

On commodity markets, global oil prices slid on Tuesday on those reports that Iran will resume talks with the US and Israel.

Brent crude futures settled down 4.6% to US$94.79 a barrel, while NYMEX crude plunged nearly 8% to US$91.28 a barrel.

Base metal prices were mixed on Tuesday.

Copper futures hit six-week highs, up 1.6% on the prospects for renewed peace talks.

Meanwhile, aluminium futures dropped 0.3% on profit-taking.

Let's take a look at currencies.

They were higher against the US dollar on Middle East truce hopes.

The euro advanced 0.3% to 1.1792 US dollars.

The Japanese yen climbed 0.4% to 158.88 yen.

And the Aussie dollar rose 0.4% to 71.26 cents.

Okay, it's time to head to Wall Street.

The Dow Jones Index finished up 0.7%, the S&P 500 was 1.2% higher, and the NASDAQ added 2%.

A closer look at the trading day there.

Wall Street advanced after the reports of fresh efforts to ease the Middle East conflict.