Stocks Edge Up as Commodity Surge Boosts Miners – Europe Market Wrap

On Monday, European shares remained around their all-time highs, boosted by record-high copper and gold prices and forecasts of interest rate reduction in the months ahead.

The Stoxx Europe 600 Index rose 0.2%, with mining firms such as Glencore, Rio Tinto, and KGHM boosting the resources sector. Futures on the S&P 500 and Nasdaq 100 also moved up, as traders awaited this week’s reports from artificial intelligence leader Nvidia, which has propelled much of this year’s Wall Street advances.

Nvidia’s stock increased around 1.5% in New York premarket trade, while other chipmakers such as Micron Technology and Super Micro Computer also improved.

However, the commodities gain is reigniting worries of a new inflationary surge, which might dampen the appeal of equities and bonds, which have surged on the expectation that easing price pressures will allow the Federal Reserve, European Central Bank, and others to decrease interest rates.