* Wall Street climbs, Nasdaq tops 6,000 mark
* Oil edges up in choppy trade
* Markets await Trump tax announcement on Wednesday
(Adds close of European markets)
By Chuck Mikolajczak
NEW YORK, April 25 Global stock markets rallied
for a second consecutive day on Tuesday on solid U.S. earnings,
aided by speculation about U.S. tax reform and reduced chances
of a U.S. government shutdown this weekend.
Wall Street gained as concerns about France's election waned
and investors cheered earnings from companies such as McDonald's
Corp, up 5.4 percent, and Caterpillar Inc, up
7.6 percent. The Nasdaq Composite index breached the 6,000 mark
for the first time.
"They are leading the train today," said Ken Polcari,
director of the NYSE floor division at O'Neil Securities in New
"Part of it is just that momentum, you are caught in it but
you can't get in front of a moving train, so the momentum is
such that you have to let it run."
Markets also maintained the boost from the French election
results, with recent opinion polls have centrist Emmanuel
Macron, who won with a comfortable lead over far-right, anti-EU
candidate Marine Le Pen in a May 7 run-off vote.
Safe-haven assets such as gold and the Japanese yen
retreated, while the yield gap between French and German
short-term government bonds, a closely watched measure of
political risk in the euro zone, hit its lowest in almost three
Investor focus shifted to corporate earnings and U.S.
President Donald Trump's promise to announce "a big tax reform
and tax reduction" on Wednesday.
The threat of a U.S. government shutdown this weekend
appeared to recede on Tuesday after Trump backed away from a
demand that Congress include funding for his planned border wall
with Mexico in a spending bill.
The Dow Jones Industrial Average rose 254.13 points,
or 1.22 percent, to 21,018.02, the S&P 500 gained 15.88
points, or 0.67 percent, to 2,390.03 and the Nasdaq Composite
added 45.95 points, or 0.77 percent, to 6,029.77.
The pan-European FTSEurofirst 300 index rose 0.21
percent and MSCI's gauge of stocks across the globe
gained 0.65 percent after touching a high of
French shares closed up 0.2 percent, after a 4.1
percent surge on Monday, their biggest daily gain since August
The euro added to Monday's gains against the dollar,
up 0.63 percent to $1.0935.
The Canadian dollar fell 0.6 percent to C$1.3583 per
U.S. dollar after the United States announced new duties
averaging 20 percent on Canadian softwood lumber imports.
The Japanese yen weakened 1.26 percent versus the greenback
at 111.14 per dollar, while Sterling was last trading at
$1.2826, up 0.26 percent on the day.
Gold, also seen as a safe-haven asset, fell. Spot gold
dropped 0.9 percent to $1,263.26 an ounce. U.S. gold
futures fell 0.98 percent to $1,265.00 an ounce.
Oil prices edged up in choppy trade on Tuesday as U.S. crude
inventory data that was forecast to show a drawdown faced doubts
about OPEC's ability to reduce a global glut.
U.S. crude rose 0.39 percent to $49.42 per barrel
and Brent was last at $51.93, up 0.64 percent on the
(Additional reporting by Rodrigo Campos; Editing by Nick
Zieminski and Richard Chang)