European markets and US futures both climbed on Tuesday, as the prospect of strong corporate results served to alleviate worries about rising prices. Treasuries rose while the dollar fell.

Basic resources drove the Stoxx 600 index up in Europe, while Asian stocks were barely moved. Despite supply chain problems, labor shortages, and fuel supply disruptions, Bellway shares climbed as the UK homebuilder exceeded expectations.

The Australian Central Bank said that it remained committed to maintaining extremely supportive monetary conditions to boost the economy, whipsawing Australian bonds, while global bond rates were mixed. The emphasis in China is on the debt-ridden China Evergrande Group's real-estate business and its upcoming coupon payment on local debt.

Oil prices grew as natural gas prices in Europe fell, with mild and windy weather bringing some respite to the region's overburdened energy grid. Investors are watching earnings season closely to see how rising energy and raw material prices are impacting profit margins.