Tech Boost Continues Stock Relief Rally – Europe Market Wrap
US shares were set for a second day of strong gains as a relief rally over Trump’s decision on Greenland continued, bolstered by a surge of activity in the AI sector.
S&P 500 futures rose 0.5% after the benchmark posted its greatest advance since November. Nasdaq 100 contracts climbed 0.8%. Names associated with the development of AI infrastructure performed strongly in premarket trading. Gold, treasuries, and currencies all fluctuated.
The stock market rebounded as Trump announced a framework agreement with NATO to end a days-long standoff over Greenland. The rally gained traction on Thursday after NATO’s chief offered additional information, stating that the breakthrough did not include a debate of the territory’s sovereignty, allaying concerns about a major sticking point.
Caution lingered as investors struggled to negotiate an increasingly noisy environment following a three-year bull run that propelled stocks to new highs. The S&P 500 has yet to recover from its weekly loss, while gold is on track for its greatest weekly gain since October. Bitcoin remained priced below $90,000.
Meanwhile, small-cap stocks appear to be on course to continue their stellar run after outperforming the S&P 500 for 13 straight sessions, with Russell 2000 futures broadly mirroring those on the S&P 500 on Thursday.
