Tech Stocks Increase as Copper and Gold Set Records – Europe Market Wrap

The Nasdaq 100 is poised to recoup its December losses as a renewed desire for technology equities drives gains throughout global markets. Gold, silver, and copper all reached record highs.

Futures on the gauge increased 0.6%. Oracle and Micron gained more than 2% in premarket trade, while the majority of the Magnificent Seven megacaps increased. Technology and mining stocks outperformed in Europe. In Asia, the benchmarks most vulnerable to AI demand, such as South Korea’s Kospi, led increases. S&P 500 futures were up 0.4%.

Meanwhile, the attention on commodity price movements expanded beyond record-breaking metals, with oil rising amid increased geopolitical tensions after the US tightened its blockade of Venezuela. Global bond markets continued under pressure, with Japanese debt falling for a second day following the BoJ’s raised interest rates. The Dollar declined.

Optimism in a year-end markets surge is growing after dip buyers helped US stocks recover late last week. While some concerns about the AI trade and high valuations remain, optimism about the economy and corporate profits is helping to bolster sentiment.

Spot gold rose more than 1.6% to surpass the previous record of $4,381 per ounce established in October. Silver and copper also reached all-time highs, while platinum extended its surge for the seventh consecutive session.