US CB consumer confidence survey decline to 98.8, the lowest since February 2021, missing estimates of 100, an below the previous reading's 103.2. 

US stock indices rose on Tuesday, buoyed by improving risk appetite following China's decisions. 

China decided to reduce the duration of health isolation imposed on travelers as part of its anti-Covid operations. 

Now investors are following the Federal Reserve's statements closely, with some officials hinting at even higher US rate hikes than expected to control inflation. 

Dow Jones rose 0.6% as of 14:07 GMT to 31,614, as S&P 500 rose 0.3% to 3914, while NASDAQ slipped 0.1% to 11,509. 

Oil prices surged in European trade to two-week highs for the third session on supply shortage concerns as the UAE confirms it has reached upper capacity in oil production. 

Global Prices

US crude rose 1.5% to $111.69 a barrel, the highest since June 17, while Brent rose 1.8% to $117.74 a barrel. 

US crude rose 2.3% yesterday, while Brent climbed 2.6%, the second profit in a row away from six-week lows. 

Macron

French President Emanuel Macron told his US counterpart Joe Biden that the communicated with UAE government and Saudi governments, and both are at their upper limits of production.

US administration has been trying to pressure UAE and Saudi Arabia to increase output to offset some of the Russian shortages. 

Libyan Output 

Libyan authorities said they might close some oil exporting ports amid overwhelming conditions that are preventing proper operations. 

Ecuadorian Output 

Ecuadorian Energy ministry said the country might suspend oil output completely in the next two days due to ongoing anti-government protests. 

Dollar rose in European trade off two-week lows against a basket of major rivals on track for the first profit in three days. 

The gains come amid positive developments in the US bonds market, bolstering the case for US dollar investments. . 

The Index 

The dollar index rose 0.3% on Tuesday to 104.26, with a session-low at 103.77, after closing down 0.2% yesterday, marking two-week lows at 103.67. 

US Yields 

US 10-year treasury yields rose 1.7% for the third straight session, heading for 11-year highs at 3.5%. 

Higher yields underpin the dollar and hurt gold demand, as analysts now expect a solid 0.75% rate hike in July to control record inflation. 

Consumer Sentiment 

Now investors await data on US consumer sentiment later today, important for gauging the market's confidence.