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Asian stocks bounce as AI, Mideast jitters recede; dollar firm on Fed bets
Reuters • • general
Key Points:
- Asian markets and US equity futures opened higher on Monday following a volatile week marked by significant declines in tech-heavy Asian markets due to AI-related concerns.
- US stock futures for the S&P 500 were up 0.6%, with Wall Street rallying last Friday after heavy AI-related selling, easing investor nerves.
- Rising interest rates and fears of increased AI and data center regulation after the US midterm elections have pressured global stocks, but some investors see current lows as buying opportunities.
- A strong US jobs report showing 165,000 new jobs added in October boosted expectations for a Federal Reserve rate hike in December, with market bets for at least a 25 basis point increase rising to nearly 80%.
- The US dollar strengthened significantly, while Bitcoin and Ether showed modest gains as investors cautiously responded to potential regulatory changes under a Democratic-controlled Congress.
