UK stocks climbed, boosted by gains in financials and consumer staples stocks ahead of today’s budget that is expected to include significant tax measures. The blue-chip FTSE 100 closed up 0.8%.
Alphabet was on track to hit a historic $4 trillion market valuation, powered by an impressive year-long rally fueled by the Google parent’s sharpened focus on artificial intelligence tools.
Tech stocks remain on track for a record $75 billion inflow this year, BofA’s weekly flow show note said, highlighting demand for the sector even as it comes under pressure from concerns about lofty valuations.
Oil prices eased about 1% to end last week, to settle at one-month lows as the U.S. pushed for a Russia-Ukraine peace deal that could boost global oil supplies, while uncertainty over U.S. interest rates curbed investors’ risk appetite.
Ether faced a sharp 15% drop to end last week, falling to its lowest level since July. The move wiped out $460 million of leveraged ETH bullish positions in two days and extended the decline to 47% from the August 24 all-time high.
The retail giant Walmart said it was shifting its longtime listing on the New York Stock Exchange to its main rival — even giving a passing nod to artificial intelligence as one of the reasons for aligning itself with the tech-heavy Nasdaq.
