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Tech stocks' rebound boosts U.S. markets; Asian markets expected to open strongly
Rising tech stocks have boosted Wall Street, easing concerns about the potential disruptive impact of artificial intelligence, and Asian stock markets appear poised to follow suit.Stock index futures point to strong openings in Sydney, Tokyo, and Hong Kong. In the U.S., the Nasdaqs 100 rose 1.1% on a rebound in software stocks, while the S&P 500 also advanced, supported by improved consumer confidence.Short-term bonds underperformed. Gold and crude oil prices fell. Traders are also closely watching NVIDIA’s earnings report due Wednesday, with expectations that the chipmaker will far exceed forecasts. NVIDIA’s stock has underperformed recently as investors have been selling off large-cap stocks.David Laut of Kerux Financial said this week’s earnings reports will either “ease” or “exacerbate” concerns about artificial intelligence. We won’t get all the answers this week, but anxious investors are eager for clarity.
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