As Alibaba Boosts AI Sentiment, Stock Futures Rise – Europe Market Wrap
US markets are likely to resume their climb after Alibaba pledged more expenditure and Micron issued an upbeat projection, reinforcing optimism about AI.
Nasdaq 100 futures increased 0.3% after large tech fell in the previous session, breaking a string of records. Alibaba gained 9% in typhoon-hit Hong Kong as it announced plans to increase AI spending beyond an initial $50 billion target. Micron gained in premarket trading as solid earnings confirmed the boom’s continued strength. Gold remained around all-time highs.
The Dollar recovered 0.3% after back-to-back losses. US Treasuries were little changed, with the 10-year yield at 4.11%. European stocks slipped 0.3%. The region’s defense stocks rallied after Trump’s latest criticism of Russia.
Bullishness over AI’s vast potential has fueled multiple all-time highs in stocks this year, offsetting worries about geopolitical risks and trade tensions. Prospects for rapid Fed policy easing have added to the buoyant mood, as investors bet that lower interest rates and a resilient economy will lift corporate earnings.
