In European Equity Markets the pan-European Stoxx 600 closed 0.3 percent higher with major bourses and sectors in mostly positive territory. Telecoms were the worst performers, off by nearly 1.5 percent, whereas basic resources rose just over 1 percent on earnings news. Shares of Schibsted rose almost 12 percent, leading the gains in Europe, after reporting an all-time high in earnings and 7 percent above Reuters consensus. Thyssenkrupp also jumped nearly 10 percent following news the chairman resigned after the company’s CEO left last week due to shareholder pressure.

In Currency Markets the US dollar rose on Tuesday as Federal Reserve Chairman Jerome Powell provided an upbeat assessment on the U.S. economy while downplaying the impact of current global trade policy discussions on the outlook for further monetary tightening. The dollar traded up 0.5 percent against the yen at 112.86 yen. The pound fell 0.5 percent against the dollar at $1.3165 following weak UK data and after news Prime Minister Theresa May faces yet another challenge in a divided parliament over wording in her Brexit bill.

In Commodities Markets U.S. crude oil futures fell on Tuesday as worries over supply disruptions eased and the focus moved to increasing domestic production and potential damage to global growth from the U.S.-China trade dispute.  U.S. West Texas Intermediate crude (WTI) was 81 cents lower at $67.26 a barrel. It lost 4.2 percent on Monday. Brent futures rose 9 cents to $71.93 a barrel, after earlier trading as low as $71.35 a barrel, its lowest since April 17. Brent fell 4.6 percent on Monday.

In US Equity Markets indices fell on Tuesday as Netflix’s declined due to weak subscriber growth weighed on other high-growth stocks, while investors awaited Federal Reserve Chairman Jerome Powell’s Congressional testimony. Netflix fell 13.1 percent, weighing the most on the S&P 500 and the Nasdaq, after the company’s quarterly subscriber growth missed analysts’ expectations, fanning fears that its rapid expansion is slowing. The S&P 500 was down 0.20 percent, at 2,792.80 and the Nasdaq Composite was down 0.54 percent, at 7,763.51.

In Bond Markets U.S. Treasury yields rose on Tuesday, with the two-year yield hovering near a decade high as Federal Reserve Chairman Jerome Powell was upbeat on the economy, supporting traders’ view of further rate increases from the U.S. central bank. The two-year yield, which is most sensitive to traders’ views on changes in Fed policy, was 2.611 percent, matching the level set on Monday, which was the highest since August 2008, according to Reuters data. The spread between two-year and 10-year Treasury yields was 24.90 basis points, hovering at its tightest level since July 2007.