Stocks rise as SpaceX fever lifts tech; yen flat after BOJ hikes rates

By Amanda Cooper and Alun John

LONDON, June 16 (Reuters) - Global stocks edged higher connected Tuesday aft a rally the time earlier connected quality of a U.S.-Iran bid deal, portion the dollar held steadfast against the yen aft the Bank of ‌Japan raised rates to a 31-year high.

Markets settled into a much measured code connected Gulf developments arsenic the archetypal excitement implicit ‌the preliminary statement betwixt Washington and Tehran began to fade.

Technology stocks got a assistance arsenic investors took bosom from SpaceX's blockbuster IPO precocious past week that pushed its shares up ​nearly 20% connected Monday, taking the abstraction exploration company's marketplace worth past the $2 trillion mark. They were up different 10.7% successful premarket trading connected Tuesday. Nasdaq futures roseate 0.1%, portion S&P 500 e-mini futures were flat.

The Nikkei 225 deed the 70,000 people for the archetypal clip aft the Japanese cardinal slope voted 7-1 to rise its benchmark argumentation complaint to 1%, levels past seen successful 1995. Against the dollar, the yen was level astatine 160.31.

In Europe, ‌the STOXX 600 roseate 0.6% to hover adjacent ⁠Monday's grounds high, led by gains successful Schneider Electric, which caters to information centres, and ASML, which roseate 2.7% and 0.6%, respectively.

Nvidia, the world's astir invaluable shaper of AI chips, amazed investors by tapping the enslaved markets for $25 ⁠billion. The institution said the currency would beryllium utilized for wide firm purposes and the indebtedness merchantability was to found a liquid benchmark for aboriginal issuance. Nvidia shares were a interaction little successful premarket trading.

"The world is we're 1 measurement further from worst-case scenarios, and we're 1 measurement person to seeing the codification ​of ​the optimism of the market," Mitch Reznick, radical caput of fixed income astatine ​Federated Hermes, said.

"The cardinal happening is to what grade we ‌have systemic inflation, however acold it has permeated the economy, and the effect connected the consumer," helium added.

Oil slid different 2.2% to a three-month debased conscionable supra $81 a barrel, adjacent though shippers successful Asia and Europe said rebuilding assurance successful resuming transit done the Strait of Hormuz could instrumentality weeks.

Oil consumers volition apt scramble to restock inventories depleted implicit the past weeks of war, meaning prices whitethorn not person overmuch country to autumn successful the adjacent term, according to ING strategist Warren Patterson.

U.S. President Donald Trump's announcement of a woody with Iran drew archetypal capitalist alleviation connected ‌Monday, but it besides puts Washington connected a collision people with Israel.

"While it ​is an important diplomatic breakthrough that should region a cardinal root of marketplace volatility, the ​durability of the woody is apt to beryllium tested successful ​the future," Westpac analysts wrote successful a probe note. "Many sticking points, including the destiny of Iran's atomic programme, were ‌left to beryllium resolved successful consequent negotiations."