Reuters

U.S. President Donald Trump said on Tuesday he saw “possible progress” regarding North Korea after South Korea said Pyongyang is willing to hold talks with the United States on denuclearization and will suspend nuclear tests while discussions are under way.

Oil rose on Tuesday, paring earlier losses after South Korea said it would hold a summit with North Korea for the first time in more than a decade, which investors took as a cue to sell the U.S. dollar and buy risk-sensitive assets such as commodities.

New orders for U.S.-made goods recorded their biggest decline in six months in January and business spending on equipment appeared to be slowing after strong growth in 2017.

European shares bounced off six-month lows on Tuesday as the focus shifted from politics to dealmaking and earnings, with paper and packaging stocks soaring after Smurfit Kappa rejected a bid approach.

The dollar held steady versus the yen on Tuesday, supported by receding fears about a trade war stemming from U.S. President Donald Trump’s proposed tariffs on imported steel and aluminum.

Bank of Japan Governor Haruhiko Kuroda said the central bank won’t end its ultra-loose monetary policy until its inflation target is met, seeking to dispel lingering market speculation it could dial back stimulus earlier than expected.

U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the country, once the world’s top oil importer, closer to self sufficiency, the International Energy Agency said on Monday.

Italy’s eurosceptic League claimed the right to lead a new government on Monday, telling investors they should have no fear of it taking office after an inconclusive election gave its center-right alliance the largest bloc of votes.

China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said Monday.

Asian investors dumped shares and drove to the safety of the yen and gold on Monday amid fears of a global trade war and worries of political uncertainty in Italy, risks that cloud the outlook for world growth.