The Federal Open Market Committee's July meeting, which concludes later in the day, will be the focus of investors as second-quarter earnings encouraged them.

US futures rose in early-morning trading after Microsoft and Alphabet's earnings missed analyst expectations, but were better than they had initially feared.

The futures contracts for the tech-laden Nasdaq performed very well. The futures of the S&P 500 and the DOW Jones Industrial Average rose.

Analysts said that the latest rally could be a turning point for the S&P 500.

Chris Weston is the head of research at Pepperstone. The bulls need the index to push through 4,000 in order to see a trend develop.

The Federal Reserve's next policy meeting is going to be watched by investors. The US central bank is expected to raise interest rates today, with most markets pricing in a second hike in a row. There is a question over what policymakers will say about their outlook for the rest of the year.

With so many moving parts to consider, we expect markets to remain volatile after the meeting. Under a range of scenarios, we advise investors to make sure their portfolios are robust.

The global stock market gained after Big Tech earnings were released.

The European stock market's flagship index, the Stoxx 600 index, was up in that rally. The CAC 40 in Paris, the DAX 40 in Germany and the UK's FTSE 100 all rose.

The region is at risk of an energy crisis as Russia slashed flows of natural gas through theNord Stream system to just 20% of the total capacity.

The price of commodities went up in the wake of Putin's move. Within sight of the record highs above 300 euros posted just after Russia invaded Ukraine, TTF natural gas futures surged to above 222 euros per megawatt hour.

Burgeoning energy and political crises in Europe weighed on risk yesterday. The managing director of a bank. European natural gas futures climbed to their highest since the aftermath of the invasion as a result of the gas crisis.

Asian stocks did not perform as well as they could have. The Tokyo's Nikkei 225 closed up 0.22%, but the Hong Kong's Hang Seng and the China's Shenzhen Component both lost ground.