AI shares lift global stocks as rate worries linger
Technology leads the overnight recovery, but hotter U.S. inflation keeps borrowing costs in focus.
Global stocks rose Wednesday as renewed buying in artificial-intelligence shares helped offset worries about further U.S. interest-rate increases. European markets advanced and U.S. stock-index futures pointed higher after CoreWeave's results and outlook revived demand for the AI trade.
In an early European snapshot at 8:34 a.m. London time, or 3:34 a.m. Eastern, the Stoxx Europe 600 was up 0.7%, S&P 500 futures gained 0.8% and Nasdaq 100 futures rose 1.7%. Those are overnight indications, not U.S. opening prices. Technology shares also led gains in Asia.
The recovery follows the inflation-driven retreat covered in Tuesday's Dusk Ledger. It does not remove the tension between demand for AI infrastructure and the cost of funding it. CoreWeave's post-results call set out a target for positive adjusted net income in 2028, while investors continued to assess the prospect of more Federal Reserve tightening.
Veterans Day brings a split U.S. schedule. The stock market has its regular session, while SIFMA recommends a full close for U.S. dollar-denominated fixed-income trading. That makes it especially important not to read a carried-forward Treasury yield as a fresh cash-market move.
