Stock markets around the globe are poised for weekly gains, buoyed by strong earnings reports from key U.S. technology companies that have calmed investor concerns over the profitability of artificial intelligence ventures. Impressive financial performances from tech giants Microsoft and Amazon have provided reassurance that substantial investments in AI are beginning to yield growth.
In South Korea, the KOSPI index experienced a robust rebound after earlier losses, while the STOXX 600 in Europe surged to a record high. U.S. stock futures also climbed, reflecting a renewed sense of optimism within the technology sector.
Meanwhile, the Japanese yen weakened as the Bank of Japan decided to keep interest rates steady. However, the central bank indicated its openness to raising rates should inflation risks become more pronounced.
Investors are also keeping a close watch on geopolitical tensions in the Middle East. These tensions have contributed to elevated oil prices, adding a layer of uncertainty to the global market landscape.