Global stocks rise after Wall Street gets a boost from hopes for interest rate cuts

Market Overview - European and Asian shares mostly gained on Tuesday following a rally in U.S. stocks, driven by hopes that the Federal Reserve will cut interest rates soon [2] - The S&P 500 climbed 1.5% on Monday, marking one of its best days since summer, while the Dow Jones Industrial Average rose 0.4% and the Nasdaq composite jumped 2.7% [2] - Traders are betting on an 85% probability that the Fed will cut rates next month, up from 71% on Friday [4] Sector Performance - In Asian markets, Tokyo's Nikkei 225 gained 0.1%, while South Korea's Kospi rose 0.3% and Taiwan's Taiex jumped 1.5% [2] - Chinese markets advanced, with Hong Kong's Hang Seng climbing 0.7% and the Shanghai Composite index increasing by 0.9% [2] - E-commerce giant Alibaba gained 2.1% in Hong Kong ahead of its earnings report [2] Key Influencers - The market was buoyed by strong performances from stocks involved in the artificial intelligence sector, with Alphabet rising 6.3% and Nvidia increasing by 2.1% [2] - Concerns over SoftBank's 10.3% drop due to potential threats to returns from its investments in OpenAI impacted the market sentiment [2] Economic Indicators - The U.S. government is set to release inflation data for September, with economists expecting a 2.6% rise in prices year-over-year, the same as in August [2] - A higher-than-expected inflation reading could deter the Fed from cutting interest rates in December [2]