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Stock market today: World shares gain on back of Wall Street rally as war shock to markets fades

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World shares have advanced after U.S. stocks rallied as investors unwound some of last week’s moves driven by worries about war in the Middle East. Oil prices edged higher and U.S. futures were little changed. Markets are awaiting China's latest economic growth figures, due Wednesday.

A person stands in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Tuesday, Oct. 17, 2023, in Tokyo. Asian shares advanced Tuesday after U.S. stocks rallied as investors unwound some of last week’s moves driven by worries about war in the Middle East. A person stands in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Tuesday, Oct. 17, 2023, in Tokyo.

Oil prices have fallen back after a volatile week spurred by worries about disruptions to supplies from Iran because of the war. Gold fell $1.60 to settle at $1,932.70 per ounce. Last week was its best in nearly seven months as worries climbed ahead of a possible invasion by Israel of northern Gaza. “Investors should remember that markets are very resilient, have endured countless wars, recessions, and depressions, and have rewarded long-term investors with a well-crafted financial plan,” said Mark Hackett, chief of investment research at Nationwide.

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