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

BANGKOK — World 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.Markets are awaiting China’s latest economic growth figures, due Wednesday. Economists are forecasting that annual growth dropped to under 5% in July-September from 6.3% in the previous quarter.

Oil prices have fallen back after a volatile week spurred by worries about disruptions to supplies from Iran because of the war.Early Tuesday, U.S. benchmark crude oil was up 2 cents at $86.68 per barrel in electronic trading on the New York Mercantile Exchange. On Monday it fell $1.03 to settle at $86.66. It has been bouncing up and down since barreling from $70 during the summer to more than $90 late last month.

Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to revert to longer-term fundamentals. Charles Schwab rose 4.7% after it reported stronger profit for the three months through September than analysts expected.

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