Global stocks near record highs, benign US inflation eclipses oil rally
Oil and gas prices were still headed for sizeable weekly gains as peace efforts stalled and the US threatened further economic pressure on Iran, including an expanded naval blockade.
Global stocks near record highs as benign US inflation eclipses oil rally. Brent crude rose 1.7% to $88.5 a barrel, poised for a 6% weekly increase. Market sentiment remains positive despite faltering talks to end the Middle East conflict and Iran's economic pressure. Investors show no alarm, as short-dated bond yields rise modestly, and several market-based inflation expectations metrics trend lower.
Gold, typically hurt by rising rates, touches two-month highs. Focus shifts to AI theme following strong earnings, easing concerns about massive AI spending. MSCI All-World up for a third straight week, trading just below record highs. European STOXX 600 slightly lower due to tech sector losses offset by gains in defense and carmakers.
The week ends on a positive note with minimal economic and corporate event risk. However, geopolitical uncertainty looms as the US and Iran's conflict drags on. Current geopolitical risks are the only major macro barrier to markets reaping strong earnings and monetary policy tailwinds.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Global stocks near record highs, benign US inflation eclipses oil rally freemalaysiatoday.com
