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Markets breathed a sigh of relief last night and clawed back some recent losses after the US President Donald Trump fired off a tweet that fueled the oil price to move higher.

Markets: The Nasdaq rose 2.8%, the Dow gained 2%. London’s FTSE had the most fire in Europe, rising 2.3%.

Commodities: Crude oil rised 22%, clawing back recent losses, settling at $14.23 while brent oil pumped up 20%. The gold price gained a bit of shine, rising to $1,736.90.

What to watch today: Oil and mining companies on the ASX after their US and European counterparts rose 3%, a2milk (ASX:A2M) after Citi upgraded its price target after a2milk rose its earnings forecasts, Evolution Mining (ASX:EVN) after it reported no material impact from COVID-19 and maintained guidance, and AMP (ASX:AMP) after it reported a mixed third quarter with loans rises while assets under management fell. Also watch US futures this afternoon as traders weigh up what to expect.