As the AI Deal Frenzy Continues, Stocks Continue to Rise – Europe Market Wrap

A tech-fueled boom in global stocks continued unabated, with another wave of large-scale AI deals and partnerships stoking new optimism.

S&P 500 futures advanced 0.2%, setting the US benchmark on track for a sixth straight gain and its longest winning streak since July. The gauge has now gone 114 trading sessions without a 5% pullback, taking investors on a one-way march to all-time highs. Europe’s Stoxx 600 extended its record run, fueled by mining shares as copper headed for its biggest weekly advance since April.

Investors are wagering that the billions pouring into the AI sector will translate into profits and extend gains in tech shares. The rally underscores how bullish momentum is overshadowing concerns about a US government shutdown, now in its third day and prompting a blackout in key economic data.

In commodities, gold was on track for a seventh weekly gain, fueled by central bank buying amid falling US interest rates and lingering inflation concerns. And despite all the hype around AI and the surge in chip stocks this year, gold miners have actually been the better bet.