Stocks Close In on New Highs as Tech Leads Charge: Markets Wrap
(Bloomberg) — Global stocks are pressing toward fresh 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 less than half a percentage point shy of a record high. Nasdaq 100 futures advanced 0.5%. Treasuries were slightly lower ahead of a $70 billion auction of five-year notes.
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 Seven heavyweights later in the week. Attention will also shift to the Federal Reserve’s policy decision on Wednesday.
“In the US, while very elevated valuations and the dollar weakness make us more cautious than in Europe, there’s possibly still one or two interest rate cuts lined up for this year,” Laurent Chaudeurge, an investment committee member at BDL Capital Management in Paris. “Investors are still chasing the AI trade, and at the moment this is done through semiconductors.”
In Europe, the Stoxx 600 was led higher by a 15% surge in Puma SE after the Pinault family sold a stake in the sportswear maker. MSCI’s regional gauge for Asia climbed to a record as South Korean chipmakers outperformed, shrugging off US President Donald Trump’s threat of higher US import tariffs.
The greenback hovered near the lowest since 2022 after speculation that the US could coordinate intervention with Japan to support the yen sent the currency tumbling on Monday. Precious metals rallied again after gold and silver erased much of their advance in the previous session, with bullion trading near $5,100 an ounce.
“The main drivers that were there last year — trade tensions, geopolitical instabilities — are still very much there,” said Frederique Carrier, head of investment strategy for RBC Wealth Management in the British Isles and Asia. “The geopolitical situation is particularly unnerving at the moment. Gold prices could potentially exceed $7,000 by the end of the year.”
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 9:43 a.m. London time S&P 500 futures rose 0.2% Nasdaq 100 futures rose 0.5% Futures on the Dow Jones Industrial Average fell 0.1% The MSCI Asia Pacific Index rose 0.9% The MSCI Emerging Markets Index rose 1.1% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1872 The Japanese yen fell 0.2% to 154.48 per dollar The offshore yuan was little changed at 6.9535 per dollar The British pound was unchanged at $1.3680 Cryptocurrencies
Bitcoin was little changed at $87,887.46 Ether fell 0.6% to $2,909.89 Bonds
The yield on 10-year Treasuries advanced one basis point to 4.22% Germany’s 10-year yield advanced one basis point to 2.88% Britain’s 10-year yield advanced one basis point to 4.51% Commodities
Brent crude fell 0.1% to $65.50 a barrel Spot gold rose 1.6% to $5,089.94 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Sabrina Nelson Garcinuño.
©2026 Bloomberg L.P.
