Tech stocks rise on renewed AI fever, higher oil, bond yields temper rally
Meta’s 11% surge on Monday lifted AI-linked stocks, including Intel, Arm and AMD.
Technology stocks experienced a surge on Tuesday due to renewed optimism about artificial intelligence (AI). The popularity of Meta Platforms' Muse AI assistant, which was launched two weeks ago, contributed to the rally in the tech sector. Meta's stock soared over 11% on Monday, marking its largest one-day gain since April 2024, and boosted other AI-related stocks like AMD, Intel, and Arm Holdings.
The broader market, however, struggled to make significant gains as oil prices rose above $100 per barrel and bond yields climbed higher. In Europe, the STOXX 600 fell slightly, having gained 1% the previous day. Investors are closely watching a meeting between US President Donald Trump and Chinese President Xi Jinping, as it may impact the ongoing trade relations between the two countries.
Energy prices remain high, prompting concerns about potential further interest rate hikes from central banks, which in turn supports the dollar and pushes up global bond yields.
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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