Rises in Asia and in Wall Street futures; oil price drops 3%

Asian markets turned to gains, Wall Street futures point to a recovery, and the oil price drops 3% amid reports that Trump wants to give time to diplomatic efforts with Iran. This week is expected to bring financial reports, US midterm elections, and employment data.

Asian trading opened mixed and turned to gains, with Japan's Nikkei up 0.5%, Hong Kong's Hang Seng up 0.6%, South Korea's Kospi up 2.5%, and China's Shanghai up 1%. The gains in China are partly due to a report of an expected meeting of financial regulators with banks and investment houses to discuss measures to support the capital market. Futures in New York point to a recovery, with gains of 0.9% in the Nasdaq and 0.5% in the S&P 500, after sharp declines on Friday. The oil price drops 3% following a report that US President Donald Trump wants to give additional time to diplomatic efforts with Iran. This week is expected to be packed with financial reports, including from Apple and Palantir, the US midterm elections, and economic data. Morgan Stanley estimates that the market may fall before climbing, and sees the decline as a buying opportunity.