Global Market Today: Wall Street gains lift Asian stocks as Fed decision looms
Gauges in Japan and South Korea advanced, helping the broader MSCI Inc.’s Asia Pacific equities gauge rise 0.6%. Equity-index futures for US stocks also climbed in early trading.
Asian stocks rose alongside Wall Street gains, as the Federal Reserve's rate decision looms. Following Anthropic PBC's initial public offering filing, enthusiasm for artificial intelligence increased. Japanese and South Korean equities rose, helping the MSCI Asia Pacific equities gauge climb 0.6%. US stock index futures also gained.
Tech companies Meta Platforms Inc., Broadcom Inc., and SpaceX announced funding plans, boosting the S&P 500 by 0.7% and the Nasdaq 100 by 1.1%. The Philadelphia Semiconductor Index jumped the most in two months. Brent oil fell below $116 a barrel, while US crude also declined. Short-dated Treasuries slipped, the dollar edged higher, and Bitcoin traded under $80,000.
Anthropic's offering will test investor appetite for AI companies amid recent valuation concerns. The Federal Reserve's decision and big tech earnings will offer insights into the AI trade outlook.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
