Stocks Close In on New Highs as Tech Leads Charge: Markets Wrap
(Bloomberg) — Global stocks are pressing toward fresh record highs, with technology shares leading the advance as the earnings season moves into its busiest phase. Gold pushed higher while the dollar steadied.
Contracts on the S&P 500 rose 0.2% after the benchmark closed about half a percentage point shy of an all-time high. Nasdaq 100 futures advanced 0.5%. European shares were led higher by a 15% surge in Puma SE after a stake sale by France’s Pinault family. In Asia, a regional equity gauge hit a record as tech heavyweights advanced.
Stocks are rebounding from a bout of volatility that delivered back-to-back weekly losses for the S&P 500. Investors are now looking to earnings to support a three-year bull run that has broadened in recent months, after big tech drove much of the earlier gains.
Boeing Co. and LVMH are among the companies due to report Tuesday, ahead of results from four Magnificent heavyweights in the following two days. Attention will also shift to the Federal Reserve’s policy decision on Wednesday.
“Economically, things set up nicely,” Goldman Sachs Group Inc. Chief Executive Officer David Solomon said about the backdrop for global markets, citing factors such as a stimulative fiscal policy, a regulatory trend and tone that’s supportive, and massive AI investment.
“At the moment, generally things look relatively green, but that doesn’t mean there aren’t issues that could pop up,” he said in Hong Kong in an interview with Bloomberg TV.
Corporate Highlights:
China’s Anta Sports Products Ltd. has agreed to buy a stake of about 29% in Puma SE for €1.5 billion ($1.8 billion), becoming the biggest shareholder in the German company and expanding its portfolio of Western athletic brands. Micron Technology Inc. will inject an additional $24 billion in Singapore over the next decade to expand its manufacturing capabilities amid an AI-induced memory chip shortage. FAT Brands Inc., the owner of restaurant chains Fatburger, Johnny Rockets and Twin Peaks, filed for bankruptcy. European car sales grew for a third year in a row in 2025 as consumers snapped up more affordable electric and hybrid models. SK Hynix shares jumped to an all-time high after local media said the company is the sole supplier of advanced memory for Microsoft Corp.’s new artificial intelligence chip. Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 0.2% as of 8:32 a.m. London time S&P 500 futures rose 0.2% Nasdaq 100 futures rose 0.5% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index rose 0.7% The MSCI Emerging Markets Index rose 1% Currencies
The Bloomberg Dollar Spot Index rose 0.2% The euro fell 0.2% to $1.1855 The Japanese yen fell 0.4% to 154.82 per dollar The offshore yuan was little changed at 6.9549 per dollar The British pound was little changed at $1.3668 Cryptocurrencies
Bitcoin rose 0.2% to $88,121.51 Ether fell 0.3% to $2,919.16 Bonds
The yield on 10-year Treasuries was little changed at 4.21% Germany’s 10-year yield was little changed at 2.87% Britain’s 10-year yield was little changed at 4.50% Commodities
Brent crude fell 0.5% to $65.26 a barrel Spot gold rose 1.3% to $5,074.35 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Anand Krishnamoorthy.
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