Melt-Up Puts Nasdaq on Track for 10-Day Streak – Asia Market Wrap

The relentless advance in tech shares is set to drive the Nasdaq 100 to a 10th straight day of gains, just as the Fed prepares to launch a new cycle of interest-rate cuts. Gold closed in on $3,700 an ounce.

Futures for the index advanced 0.3%, with Oracle rising 4.9% in premarket trading. S&P 500 contracts climbed 0.2% after the benchmark powered through the 6,600 mark on Monday. Europe’s Stoxx 600 fell 0.3%. MSCI’s gauge for Asian shares hit a record and is poised for its best streak in nearly five years

Stock bulls are riding high ahead of a widely expected 25-bps Fed cut on Wednesday, the first move in a policy easing round projected to run into 2026. Rate-sensitive tech shares have led the charge in the post-Liberation Day rebound, fueled by enthusiasm over AI.

US Treasuries were little changed, with the 10-year yield at 4.04%. US government bonds have outpaced global peers this year, delivering a 5.8% return as expectations for policy easing reversed widely held bearish views.