© Reuters. Top 5 things to know today in financial markets© Reuters. Top 5 things to know today in financial markets

Investing.com – Here are the top five things you need to know in financial markets on Tuesday, November 7:

1. Global Stock Market Rally Shows No Sign of Slowing

The global rally in stocks , with indices around the world reaching their latest in a run of record highs, as upbeat investors continued to pile in to equities.

Asian-Pacific markets , as investors digested earnings reports and U.S. President Donald Trump’s .

Among notable standouts, jumped 1.7% to end at its highest level since 1992. Down under, Australia’s rose 1% to its highest since February 2008, bolstered by strong commodities prices.

In Europe, most of the region’s bourses in mid-morning trade, with sluggishness in the euro boosting the export-oriented to a new record high.

On Wall Street, U.S. stocks looked set to open near their all-time highs, as investors looked to key earnings reports to set the tone for the markets. Wall Street’s three major indexes on Monday.

2. Oil Holds Near July 2015 Highs

Oil prices , amid growing concern over instability in Saudi Arabia, the world’s top crude producer and OPEC’s most influential member.

futures, the benchmark for oil prices outside the U.S., dipped 15 cents, or 0.3%, to $64.11 a barrel, not far from an intraday peak of $64.65, which was its best level since July 2015.

Meanwhile, U.S. West Texas Intermediate (WTI) were little changed at $57.36 a barrel, after climbing to its highest since mid-2015 at $57.69 earlier.

Crude prices surged more than 3% on Monday, their biggest percentage gain in about six weeks, following a weekend purge in Saudi Arabia that saw high-level officials and members of the royal family detained.

Looking ahead, the American Petroleum Institute is due to release its at 4:30PM ET (2130GMT), amid forecasts for an oil-stock drop of around 2.8 million barrels, which would mark the second weekly decline in a row.

3. Dollar in Broad Advance; Euro Slides to Lowest Since July

The dollar , with a modest rise in U.S. yields helping the U.S currency, as investors continued to monitor the progress of the U.S. tax bill that, if enacted, would be the biggest overhaul of the U.S. tax system since the 1980s.

The , which tracks the greenback against a basket of six major currencies, added almost 0.5% to briefly top the 95.00-mark for the first time since Oct. 27.

The firmer dollar pushed the down to 1.1555, the single currency’s lowest since mid-July. The euro’s losses accelerated as automatic sell programs were triggered after it breached below the 1.16-level.

4. U.S. Labor Market Data, Yellen in Focus

Tuesday’s relatively light economic calendar features U.S. data on for Sept. at 10AM ET (1500GMT).

On the central bank front, , the outgoing Fed chair, will deliver acceptance remarks at the presentation of the Paul H. Douglas Award for Ethics in Government, in Washington DC at 2:30PM ET (1930GMT).

Comments from Fed Vice Chair for Supervision Randal Quarles will also be on the agenda. He will deliver remarks at The Clearing House’s annual conference in New York at around 12:30PM ET (1730GMT).

The U.S. central bank is scheduled to hold its final policy meeting of the year on Dec. 12-13, with interest rate futures pricing in a 100% chance of a rate hike at that meeting, according to Investing.com’s .

5. U.S. Earnings Season Begins to Wind Down

Dozens of companies are expected to release quarterly results today, as the U.S. earnings season begins to wind down.

Valeant Pharmaceuticals (NYSE:), Royal Caribbean Cruises (NYSE:), Dean Foods (NYSE:), Tapestry (NYSE:), SeaWorld (NYSE:) and Mallinckrodt (NYSE:) are a few of the names posting results ahead of the opening bell.

After the close, Snap (NYSE:), Marriott International (NASDAQ:), Zillow (NASDAQ:), Fossil (NASDAQ:), Zynga (NASDAQ:), Match Group (NASDAQ:) and Blue Buffalo Pet Products (NASDAQ:) are set to release earnings.

More than 80% of the has already reported quarterly results. Around 73% of those companies have surpassed earnings expectations, while 65% have surpassed sales estimates, according to Thomson Reuters I/B/E/S.