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Global stock markets rise as investors continue to bet on AI
Al Jazeera • • general
Key Points:
- Global stock markets rose as investors remain optimistic about tech giants leading the AI boom, with the Nasdaq Composite gaining 1.18% and the S&P 500 up 0.6% in the US.
- Five of the “Magnificent Seven” tech stocks increased, led by Tesla’s 4.04% rise, while Nvidia announced a $3 billion investment in Meta despite Meta’s shares falling 1.64%.
- Asian markets rallied, notably South Korea’s KOSPI soaring 6.63% after SK Hynix reported a 630% year-on-year jump in operating profit, signaling strong demand in the semiconductor sector.
- Investors await key earnings reports from Microsoft, Alphabet, Amazon, and Apple to assess the sustainability of AI-driven growth, amid concerns over a potential speculative bubble in AI investments.
- Oil prices surged nearly 2% due to ongoing Middle East conflicts, with Brent crude futures exceeding $116 a barrel, marking a 60% increase since the US-Israel war began.
