Oil prices have surged by more than 5% as the United States imposed sanctions on prominent Russian companies due to escalating tensions over Ukraine. This news simultaneously lifted U.S. and European energy stocks, countering some underwhelming earnings reports and boosting major stock indexes.

Energy stocks have spearheaded gains in the S&P 500 index, rising by 1.6%. Positive earnings reports further solidified the market's stance. Notably, Honeywell reported a 7.6% increase in its stock following an optimistic profit forecast for 2025, though IBM faced challenges with a 1.2% drop due to a slowdown in its cloud software growth.

The geopolitical scenario has additionally heightened the appeal for safe-haven gold, which saw a rise after initial declines. Indicators show strengthened confi

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