Wall Street leads the way
Global stock markets hit record highs Friday following robust gains on Wall Street. Nvidia’s strong earnings report and optimistic forecasts bolstered investor confidence, while Bitcoin’s remarkable rally added momentum.
European markets climb
- Britain’s FTSE 100 rose 0.7% to 8,204.61.
- Germany’s DAX added 0.5% to 19,248.30.
- France’s CAC 40 edged up 0.2% to 7,229.24.
Futures for the S&P 500 slipped 0.1%, while the Dow Jones Industrial Average was flat, signaling a slight cooling after Thursday’s rally.
Nvidia powers U.S. markets
Nvidia reported earnings that exceeded analyst expectations, driven by strong demand for AI-related chips. Its shares rose 0.5%, helping the S&P 500 climb 0.5% to 5,948.71. The Dow Jones jumped 1.1% to 43,870.35, while the Nasdaq Composite edged up slightly to 18,972.42.
The Russell 2000, a benchmark for smaller companies, led gains with a 1.7% rise, reflecting confidence in broader economic growth.
Asian markets mixed
- Japan’s Nikkei 225 added 0.7% to 38,283.85 after inflation slowed to 2.3%, raising expectations for a possible rate hike in December.
- Australia’s S&P/ASX 200 climbed 0.9% to 8,393.80.
- South Korea’s Kospi rose 0.8% to 2,501.24.
- Hong Kong’s Hang Seng fell 1.9% to 19,229.97, and China’s Shanghai Composite dropped 3.1% to 3,267.19, driven by a decline in semiconductor stocks.
Bitcoin hits record highs
Bitcoin briefly surpassed $99,000 on Thursday before settling near $98,000, more than doubling in value this year. Optimism surged following the announcement of SEC Chair Gary Gensler’s upcoming resignation in January. President-elect Donald Trump’s pro-crypto stance, including plans for a “strategic reserve” of bitcoin, has further fueled the rally.
Oil prices and geopolitical concerns
Oil prices rose amid escalating tensions between Russia and Ukraine. Benchmark U.S. crude gained 26 cents to $70.36 per barrel, while Brent crude added 29 cents to $74.52.
Currency and energy markets
- The U.S. dollar weakened against the Japanese yen, falling to 154.38 yen from 154.52 yen.
- The euro dipped to $1.0401 from $1.0479.
A bullish outlook
With strong earnings, rising crypto optimism, and resilient markets across sectors, investor sentiment remains upbeat. However, geopolitical tensions and volatility in commodities may temper gains in the coming weeks.
