Wall Street rally, Swedish market shifts and copper price rise

U.S. equity markets surged on Tuesday, with the S&P 500 up 1.8 % to a new record, the Nasdaq composite gaining 2.6 % and the Dow Jones rising 1.7 %. The advance was driven by optimism over a possible reopening of the Hormuz Strait, which helped push Brent and WTI crude prices down about 5 %. Technology and semiconductor stocks led gains, while energy firms such as Exxon and Chevron fell.

In Sweden, the wealth gap widened as the country became the richest in Scandinavia yet the poorest on average, and Arlanda Airport recorded its highest passenger numbers for July. Meanwhile, AstraZeneca’s shares dropped 9.5 % after reports of merger talks with Bristol Myers Squibb, prompting small investors to buy the dip.

Copper prices rose to $13,938 per ton, the highest in two months, boosting the outlook for Swedish miners including Boliden and Lundin Mining. The price increase reflects strong U.S. import volumes and ongoing supply concerns.