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Earnings excitementMajor U.S. indexes rallied Monday as investors grew optimistic over strong earnings reports thus far. Asia-Pacific markets traded higher Tuesday as South Korean indexes led gains in the region. Meanwhile, New Zealand reported two-year low inflation readings: Consumer prices in the third quarter rose 5.6% year on year, less than the second quarter’s 6% increase.

China’s renewed reboundChina’s economic growth will return next year, Mark Makepeace, former head of benchmark giant FTSE Russell told CNBC. “In the short term, China does have some issues … but the potential is there,” Makepeace said. One such issue: The country’s property sector is still struggling. If Country Garden fails to make a $15 million coupon payment today, all of its offshore debt could be in default.

Big Tech might win from the HouseIf Republican Rep. Jim Jordan is elected speaker of the U.S. House, technology giants like Google, Apple and Amazon stand to benefit because Jordan’s against using antitrust regulations to break up companies. He’s “aimed most of his ire at the Biden administration’s pressure on companies — not the companies themselves,” said Adam Kovacevich, CEO of lobbying group Chamber of Progress.

Biden to visit IsraelU.S. President Joe Biden will travel to Israel on Wednesday “to stand in solidarity in the face of Hamas’s brutal terrorist attack,” he said on social media platform X. While there, Biden will try to mitigate an expansion of the war between Israel and Hamas, and work to establish the safe passage of critical humanitarian aid to Gaza, said Secretary of State Antony Blinken.

[PRO] Rising oil prices could boost non-energy stocksExogenous shocks, like supply cuts and the Israel-Hamas war, have forced oil prices upward. That’s good news for energy stocks — but these non-energy, European stocks also stand to benefit when oil and gas prices rise, according to Bank of America.

Despite U.S. Treasury yields rising and the Israel-Hamas war becoming increasingly volatile, major indexes in the U.S. closed in the green. Investors’ excitement over third-quarter earnings season, it appears, powered Monday’s rally in equities.

Companies that have already reported have mostly beat Wall Street estimates, giving their shares a boost. Charles Schwab climbed 4.66% after beating earnings expectations, and on Friday, JPMorgan Chase and Wells Fargo rose following their earnings reports.

Investors are hoping this positive start will follow through for the week, during which 53 companies in the S&P 500 — around 11% of its constituents — will report results. (In fact, RBC Capital Markets’ so optimistic about earnings that it’s raised its forecast for 2023 and 2024 earnings per share. The bank’s new numbers “imply that the S&P 500 could surpass 4,700 by year-end 2023,” said Lori Calvasina, head of U.S. rates strategy at RBC.)

If stocks continue rising at the brisk pace they did Monday, that’s certainly a possibility. The S&P 500 added 1.06% to close at 4,373 and the Nasdaq Composite rose 1.2%. The Dow Jones Industrial Average increased 0.93% for its best day in a month, putting it less than 5% from its 52-week high.

“I really see a relief rally going on,” said Lisa Erickson, senior vice president at U.S. Bank Wealth Management. “Sentiment has just turned relatively more positive.”

Indeed, even the small-cap Russell 2000 rallied 1.59%. “This market is starting to broaden out a little bit,” Richard Bernstein, CEO of Richard Bernstein Advisors, told CNBC.

The Russell 2000 has lagged behind major indexes this year because gains were concentrated in the “Magnificent Seven” mega-cap stocks. But “if the economy is going to re-accelerate, which it is doing, and if profits growth is going to re-accelerate, which it is doing, then small caps should lead the way,” added Bernstein. “That’s what history says.”

With the Russell 2000’s best session since July, it’s no wonder investors are growing excited.

A new bill from a bipartisan group of lawmakers, if passed, would ban TikTok in the U.S. after years of broad concern across the Trump and Biden administrations about potential Chinese government influence on the company.

Social media stocks including Meta and Snap were positive Tuesday when the news broke. Meta shares were up more than 6% and Snap was up more than 3% as of late morning.

TikTok, owned by Chinese company ByteDance, has raised fears in the U.S. that Chinese government officials could gain access to U.S. user data under Chinese law that could compel the company to hand over information. TikTok has insisted U.S. user data is safely stored outside of China, which it says should keep it out of reach of government officials.

But the company’s reassurances have done little to turn down the heat on TikTok. The Committee on Foreign Investment in the U.S. is in talks with the company about how to resolve some of the data concerns, though a solution has reportedly been delayed. FBI Director Christopher Wray testified before Congress recently that he’s “extremely concerned” about the Chinese government’s potential influence through TikTok on U.S. users.

The new bill, introduced by Sen. Marco Rubio, R-Fla., and Reps. Mike Gallagher, R-Wisc., and Raja Krishnamoorthi, D-Ill., would ban “all transactions from any social media company in, or under the influence of, China, Russia, and several other foreign countries of concern,” according to a press release.

The ANTI-SOCIAL CCP ACT — which stands for Averting the National Threat of Internet Surveillance, Oppressive Censorship and Influence, and Algorithmic Learning by the Chinese Communist Party — explicitly names ByteDance and TikTok as subject to the restrictions in the bill, “unless and until the date on which the President certifies to Congress that the company no longer meets any of the conditions described,” such as being subject to “substantial influence” by a country of concern.

“It is troubling that rather than encouraging the Administration to conclude its national security review of TikTok, some members of Congress have decided to push for a politically-motivated ban that will do nothing to advance the national security of the United States,” a TikTok spokesperson said. “We will continue to brief members of Congress on the plans that have been developed under the oversight of our country’s top national security agencies—plans that we are well underway in implementing—to further secure our platform in the United States.”

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Twitter just reported earnings for the first quarter of 2022, in what could be one of its last reports as a public company after its board agreed to sell to Elon Musk for $44 billion.

Here are the key numbers:

Earnings per share: 4 cents, adjusted vs 3 cents expected, according to a Refinitiv survey of analystsRevenue: $1.2 billion vs $1.23 billion expected, according to RefinitivMonetizable Daily Active Users (mDAUs): 229 million vs 226.9 million expected, according to StreetAccount

Shares of Twitter up about 1.8% Thursday afternoon.

Twitter missed analyst revenue estimates, reporting 1.2 billion versus the 1.23 billion analysts were expecting, according to Refinitiv. But it beat estimates for earnings per share, at 4 cents, adjusted compared to 3 cents expected.

The company said the 229 million mDAUs it reported in the quarter represents a 15.9% increase from the same period last year. In the U.S. mDAUs were up 6.4% from the prior year’s quarter, at 39.6 million. International mDAUs came in at 189.4 million, up 18.1% from the year before.

It also corrected previously reported mDAU numbers that overcounted some accounts from Q1 2019 through Q4 2021. Twitter said the error, which incorrectly reported roughly 1.4 million to 1.9 million extra mDAUs per quarter during that period, was made after launching a feature allowing users to easily switch between their separate accounts. As a result, the company said that during that period, all linked accounts were counted as mDAUs when an action was made by the primary account.

Before the deal was formally announced on Monday, some analysts speculated that Twitter might have wanted to finalize the deal before reporting earnings this weak, anticipating a disappointing quarter.

Snap reported last week that its revenue was impacted by macroeconomic trends weighing on advertisers, which could similarly affect Twitter.

Though it could still take months for Musk’s deal to buy Twitter to close, the company canceled its usual earnings conference call in light of Monday’s acquisition news. It expects the deal to close this year.

Twitter also said it would not provide forward-looking guidance and is withdrawing earlier goals and outlook it has provided.

Musk has signaled he’d like to use his ownership to make Twitter a more open platform, both through transparency in its algorithms and processes and in being more tolerant of different views.

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WATCH: Less content moderation means more brand safety issues for Twitter, says JMP’s Boone