Wall Street’s main indexes rose for a fourth consecutive session, as investors doubled down on bets the Federal Reserve will cut interest rates in December. Tech stocks were in the lead following AI-server maker Dell’s strong forecasts, helping the S&P 500 and the Nasdaq touch two-week highs.
Tokyo-listed Bitcoin treasury company Metaplanet has drawn another $130 million in Bitcoin-backed credit, expanding its use of collateralized borrowing to accelerate BTC purchases, income-generation strategies and potential share buybacks.
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.
