Markets rose on Monday.
The S&P 500 rose 0.5 percent, the STOXX Europe 600 rose 0.7 percent and the Shanghai Composite rose 1.4 percent as Chinese markets reopened after a week-long holiday.
US crude oil jumped 3.1 percent after Russian President Vladimir Putin said he supported international efforts to limit oil output.
Meanwhile, US stocks could see further gains as a major headwind dissipates.
Bloomberg reports that while analysts predict that net income for S&P 500 Index members fell 1.6 percent in the July-September period to extend the earnings recession to 18 months, US companies have exceeded their forecasts by an average margin of 3.6 percentage points in the past five years.
When the latter is taken into account, the third quarter could yet turn out to be a positive one for US corporate earnings growth.
“Among the nine instances when companies emerged out of prolonged sluggishness, stocks posted gains in all but two,” the report said.