Global Market Sees Gains Amidst Geopolitical Tensions and AI Concerns
Global shares have achieved a small increase, nearing a new all-time high, bolstered by solid fundamentals despite geopolitical tensions and AI concerns. Both U.S. and European markets showed positive earnings behavior, while geopolitical developments and market reactions to major tech results, particularly Nvidia, are creating volatility.
In a week marked by geopolitical tensions and technological concerns, global shares edged higher on Friday, approaching a new record high. Despite the uneasy backdrop, the market prepares for a monthly gain, driven by solid fundamentals and bolstered by positive earnings across sectors.
Manish Kabra, head of U.S. equity strategy at SocGen, emphasized the market's renewed focus on fundamentals, describing them as 'rock solid.' This positive outlook comes as global shares rose by 0.2%, and Europe's STOXX 600 climbed by 0.4%, aided by favorable earnings reports.
However, market sentiment remains cautious due to AI spending anxieties and U.S.-Iran tensions. U.S. stock futures indicated slight declines, with S&P futures down 0.2% despite Nvidia's strong performance. Meanwhile, ongoing U.S.-Iran nuclear discussions loom large, with diplomatic efforts continuing amidst military vigilance.
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