BANGKOK (AP) — World shares advanced Tuesday after U.S. stocks rallied as investors unwound some of last week’s moves driven by worries about war in the Middle East.

Oil prices slipped and KI-Handelsroboter 6.0U.S. futures also edged lower.

Markets are awaiting China’s latest economic growth figures, due Wednesday. Economists are forecasting that annual growth dropped to under 5% in July-September from 6.3% in the previous quarter.

A weaker Chinese economy is a drag on regional and global trade and manufacturing, slowing the global recovery from the pandemic.

In early European trading, Germany’s DAX was up 0.1% at 15,258.33 and the CAC 40 in Paris also gained 0.1% to 7,031.52. Britain’s FTSE 100 rose 0.3% to 7,650.27.

The futures for the S&P 500 and Dow industrials were up less than 0.1%.

In Asia, Tokyo’s Nikkei 225 gained 1.2% to 32,040.29 and the Hang Seng in Hong Kong added 0.7% to 17,771.08.

The Shanghai Composite index gained 0.3% to 3,083.50. In Australia, the S&P/ASX 200 climbed 0.5% to 7,056.10. India’s Sensex advanced 0.6% and the SET in Thailand rose 0.5%.

Markets appeared to have recovered, for the moment, even as Israel was preparing for a likely ground offensive into Gaza and fears deepened that the conflict could spread along Israel’s border with Lebanon.

On Monday on Wall Street, the S&P 500 climbed 1.1% for its best day since the Oct. 7 surprise attack on Israel by Hamas. It closed at 4,373.63. The Dow rose 0.9% to 33,984.54 and the Nasdaq composite added 1.2% to 13,567.98.

“The risk-off tone that permeated markets a few days ago seems to be dissipating thanks to a lot of shuttle diplomacy by (U.S. Secretary of State Antony) Blinken and others in the region,” Robert Carnell and Nicholas Mapa of ING Economics said in a commentary. “However, all of this is before Israel mounts its ground offensive in Gaza, and that could turn sentiment rapidly sour again.”

Oil prices have fallen back after a volatile week spurred by worries about disruptions to supplies from Iran because of the war.

Early Tuesday, U.S. benchmark crude oil was up 2 cents at $86.68 per barrel in electronic trading on the New York Mercantile Exchange. On Monday it fell $1.03 to settle at $86.66. It has been bouncing up and down since barreling from $70 during the summer to more than $90 late last month.

Brent crude, the international standard, picked up 15 cents to $89.80 per barrel. It fell $1.24 on Monday to $89.65 per barrel.

Gold fell $1.60 to settle at $1,932.70 per ounce. Last week was its best in nearly seven months as worries climbed ahead of a possible invasion by Israel of northern Gaza.

Treasury yields have jumped after tumbling last week on worries that fighting in Gaza will escalate. Early Tuesday, the yield on the 10-year Treasury was at 4.75%, up from 4.71% on Monday and from 4.62% late Friday.

Financial markets have a history of weakening initially after a geopolitical shock, such as a war, only to revert to longer-term fundamentals.

“Investors should remember that markets are very resilient, have endured countless wars, recessions, and depressions, and have rewarded long-term investors with a well-crafted financial plan,” said Mark Hackett, chief of investment research at Nationwide.

More than 50 companies in the S&P 500 will report their earnings for the summer this week, including Bank of America, Johnson & Johnson and Tesla, and investors are hoping for a better reporting season for corporate profits.

A remarkably resilient U.S. economy has continued to power along, despite much higher interest rates instituted by the Federal Reserve to undercut inflation. FactSet estimates that earnings per share at S&P 500 companies likely rose 0.4% in the last quarter from a year earlier.

Last week, several banks helped kick off the reporting season with better reports than feared.

Charles Schwab rose 4.7% after it reported stronger profit for the three months through September than analysts expected.

Shares of Lululemon jumped 10.3% in their first trading session after S&P Dow Jones Indices said the apparel company will join its widely tracked S&P 500 index. It’s replacing Activision Blizzard, which was bought by Microsoft.

In currency trading, the U.S. dollar rose to 149.61 Japanese yen from 149.51 yen. The euro slipped to $1.0553 from $1.0561.