Mōrena and welcome to today's wrap of the main business and political headlines from around the world you need to know this Tuesday.
First up, global headlines are dominated by the release of the remaining 20 living hostages by Hamas back to Israel, which was followed by Israel freeing close to 2,000 Palestinian prisoners and detainees after two years of war.
The Guardian estimates about 65,000 people gathered on "hostages square" in Tel Aviv to watch broadcast footage of the release. The coffins of a further two dead hostages were also handed over by Hamas with another two set to be returned as well. The militant group has said it does not know the location of some of the other 24 who are dead, however.
The exchange was part of a 20-point ceasefire deal US President Donald Trump has hailed as "the end of the war", telling members of Israel's Parliament the agreement marks "the historic dawn of a new Middle East".
Trump then opened a peace summit in Egypt alongside President Abdul Fattah al-Sisi, attended by other world leaders including French President Emmanuel Macron, UK Prime Minister Keir Starmer, and Italian Prime Minister Giorgia Melono.
Sisi called the ceasefire agreement an "unprecedented accomplishment" and said Trump was the "only one" capable of bringing an end to the war in Gaza, the BBC reports.
The New York Times, meanwhile, reports that Trump's secretary of state Marco Rubio said: “This is one of the most important days for world peace in 50 years; that’s not an exaggeration.” Trump responded: “Only 50?” Rubio replied: “Maybe 100.”
The outlet reports that Trump had earlier said: “I’ve never seen anything like it: the level of love, the level of respect... It’s peace in the Middle East. Everyone said it’s not possible to do. And it’s going to happen.
The summit continues.
Israel Prime Minister Benjamin Netanyahu and US President Donald Trump.
To markets now, and stocks have rebounded from Friday's sell-off after Trump said trade relations with China "will all be fine", CNBC reports.
The Dow Jones Industrial Average was up 1.3%, the S&P 500 rose 1.5% and the tech-heavy Nasdaq jumped 2%. Oracle was up more than 4%, AMD was up more than 1% and Nvidia was up more than 2%.
Trump on Sunday posted on Truth Social following the S&P 500's worst day since April, which appeared to ease investor concerns about US-China trade tensions. Markets had lost about US$2 trillion on Friday.
“Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!” he posted.
Earnings season kicks off this week, with Citigroup, Goldman Sachs Group, Wells Fargo, JPMorgan Chase, Bank of America and Morgan Stanley all set to report.
To artificial intelligence now, and well known investor Howard Marks of Oaktree Capital Management has said the AI boom is not yet a bubble. CNBC reports the investor as saying that while AI stock valuations are high, they are not crazy.
“Expensive and going down tomorrow are not synonymous," he reportedly said.
“To me, the main ingredient in bubbles is psychological excess ... some kind of temporary mania, For a company in this sector or industry, there’s no such thing as a price too high. And I don’t detect that level of mania at this time, so I have not put the bubble label on this incident... it just hasn’t reached that critical mass of mania.”
Finally today, a trio has been awarded the 2025 Nobel economics price for their work on how innovation and forces of "creative destruction" can drive economic growth and lift living standards, Reuters reports.
The research by Joel Mokyr, Philippe Aghion and Peter Howitt has explained how technology leads to new products and production methods with result in a better standard of living, health and quality of life.
"Economic stagnation, not growth, has been the norm for most of human history. Their work shows that we must be aware of, and counteract, threats to continued growth," the Royal Swedish Academy of Sciences said.
