<\/p>\n
A pullback in oil prices sent stocks to all-time highs, with Wall Street also buoyed by renewed enthusiasm about the artificial-intelligence trade that has powered the bull market.<\/p>\n
The advance in equities extended into a fourth straight day, driving the S&P 500 toward its first record close since August. Nvidia Corp.\u2019s market value approached $6 trillion. Advanced Micro Devices Inc.\u2019s Lisa Su predicted \u201cvery high\u201d chip demand over the next few years. A drop in Brent crude to $98 eased inflation anxiety, bringing some relief to Treasuries.<\/p>\n
Equities have held up well and volatility remains contained despite risks from energy costs and interest rates. While the narrative remains captured by bets on the path for monetary policy and geopolitical developments, a less discussed factor is the strong earnings expectations, said Kyle Rodda at Capital.com.<\/p>\n
The US economy remains supportive of corporate revenues and profits, according to Ulrike Hoffmann-Burchardi at UBS Chief Investment Office.<\/p>\n
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\u201cWe retain strong conviction in the AI growth story, and believe AI-related investment remains a powerful tailwind for the broader equity market,\u201d she noted. \u201cA favourable growth environment and robust earnings suggest profit growth can broaden beyond technology.\u201d<\/p>\n<\/p>\n
Equities have historically weathered rising-rate periods when the economy and profits kept growing, according to Anthony Saglimbene at Ameriprise.<\/p>\n
\u201cIn our view, stocks have room to move higher if the 2027 outlook for growth and profits remains firm, energy prices stabilize\/fall, and the Fed signals its rate-hiking path will be short-lived,\u201d he said. \u201cOf course, any advance in stock prices through year-end will likely require a steady AI trade as well.\u201d<\/p>\n
As geopolitical fragmentation continues, most major economies are absorbing higher energy prices and tariffs better than expected, according to Tiffany Wilding and Andrew Balls at Pacific Investment Management Co.<\/p>\n
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\u201cIn our baseline, we expect global growth to remain resilient over our six- to 12-month cyclical horizon while inflation moderates,\u201d they added. \u201cA booming AI investment cycle, the ability of consumers and China to absorb higher costs, and an incremental approach by central banks may help support growth while containing inflation.\u201d<\/p>\n
Corporate highlights:<\/p>\n
Paramount Skydance Corp. closed its $110 billion acquisition of Warner Bros. Discovery Inc. on Tuesday, completing one of the biggest media mergers of all time after engaging in a bruising battle for control with Netflix Inc. and fending off antitrust lawsuits.
\nGoogle parent Alphabet Inc. agreed to buy nuclear power from Constellation Energy Corp. in a deal that will spur the addition of 890 megawatts of new reactor capacity. The power producer\u2019s stock soared.
\nAnthropic PBC\u2019s Mythos artificial-intelligence model has dramatically increased global cybersecurity risks, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said.
\nOpenAI is in talks with multiple investment funds from the United Arab Emirates, including Abu Dhabi-based MGX, to help anchor a $30 billion round of financing for the ChatGPT maker, according to people familiar with the matter.
\nMoonshot AI has closed the final round of private fundraising at a valuation of about $50 billion and is heading toward an initial public offering in Hong Kong in the first quarter of next year, according to people familiar with the matter.<\/p>\n
Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
The S&P 500 rose 0.7% as of 10:01 a.m. New York time
\nThe Nasdaq 100 rose 0.7%
\nThe Dow Jones Industrial Average rose 0.7%
\nThe Stoxx Europe 600 rose 0.4%
\nThe MSCI World Index rose 0.7%<\/p>\n
Currencies<\/p>\n
The Bloomberg Dollar Spot Index fell 0.2%
\nThe euro rose 0.3% to $1.1252
\nThe British pound rose 0.3% to $1.3268
\nThe Japanese yen fell 0.1% to 158.09 per dollar<\/p>\n
Cryptocurrencies<\/p>\n
Bitcoin rose 0.6% to $86,264.6
\nEther was little changed at $2,713.47<\/p>\n
Bonds<\/p>\n
The yield on 10-year Treasuries was little changed at 5.30%
\nGermany\u2019s 10-year yield was little changed at 3.49%
\nBritain\u2019s 10-year yield declined two basis points to 5.40%<\/p>\n
Commodities<\/p>\n
West Texas Intermediate crude fell 1.6% to $88.02 a barrel
\nSpot gold rose 0.4% to $4 154.71 an ounce<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#hits #alltime #high #bets #oil #drops #Markets #wrap<\/p>\n","protected":false},"excerpt":{"rendered":"
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