Global equities rose in response to US President Donald Trump’s economic initiatives and strong corporate earnings, while tariff uncertainties pulled the US dollar to near two-week lows.
Global stock markets rose sharply on Wednesday, driven by President Donald Trump’s recent economic initiatives and robust corporate earnings. The announcement of a revolutionary joint venture, Stargate, involving OpenAI, SoftBank, and Oracle with an investment of up to $500 billion in artificial intelligence infrastructure propelled tech stocks higher. SoftBank’s shares rose 9%, while Oracle increased 7%.
But also, the momentum in the market was fueled by Netflix, as its shares gained 14% after reporting a record number of new subscribers that boosted Nasdaq futures by 0.5%.
Despite the optimism in equity markets, the U.S. dollar remained under pressure due to ongoing uncertainties surrounding trade policies. President Trump has not yet implemented sweeping tariffs but has indicated potential duties on imports from the European Union and a 10% levy on Chinese goods. This cautious stance has kept the dollar near two-week lows against major currencies.
The yields of U.S. Treasury rose modestly in the bond market as investors turned cautious on mixed signals from developments in trade policy.
Commodities markets remained steady, with oil and gold prices flat. Bitcoin remained close to a record high as regulatory news flows continue to emerge in the cryptocurrency sector.
