Stocks Gain as Nvidia Keeps AI Juggernaut Going – Europe Market Wrap

Global equities soared, and Wall Street appeared to be on track for a new record high as Nvidia’s blowout profits bolstered the notion that the global artificial-intelligence boom will continue to drive equity markets.

Futures on the Nasdaq 100 index jumped 0.8%, while those on the S&P 500 rose 0.5%. In Europe, the Stoxx 600 index rose 0.3%, powered by technology companies such as ASML and ASM.

European bond markets reacted little to purchasing managers indices (PMI), which revealed private-sector company activity in the eurozone at its highest level in a year, indicating an economic recovery is taking root. Investors continue to price in the European Central Bank’s first rate decrease in June.

On commodities markets, oil moved up but hovered at the lowest closing level in three months, while gold and copper prices fell further from recent record highs.