Global financial markets witnessed an upward trajectory, fueled by strong earnings reports and shifting monetary policies, though major tech stocks faced unexpected hurdles.

Wall Street Records Gains Despite Tech Setbacks

Wall Street wrapped up the trading session with overall gains, as positive corporate earnings drove investor optimism. The S&P 500 climbed 0.4%, the Dow Jones Industrial Average gained 317 points (+0.7%), while the Nasdaq Composite posted a modest 0.2% increase, reflecting hesitancy in the tech sector.

Among the biggest winners, Mattel soared 15.3% following stronger-than-expected financial results, and Amgen recorded a 6.5% jump due to robust earnings. However, Alphabet (Google’s parent company) dropped 7.3%, despite beating profit estimates, amid concerns about slowing cloud business growth. Similarly, Advanced Micro Devices (AMD) fell 6.3%, even after exceeding revenue expectations.

Asian Markets Track Wall Street’s Momentum

Asian equities broadly followed the upward momentum from Wall Street, with major indices in the region posting gains. Japan’s Nikkei 225 rose 0.2%, closing at 38,888.04, while Australia’s S&P/ASX 200 added 1% to settle at 8,600. The Shanghai Composite gained 0.6%, reaching 3,248.34, whereas South Korea’s Kospi and Hong Kong’s Hang Seng showed little movement. Meanwhile, Honda Motor Co. shares saw a correction following reports of a potential failure in merger talks with Nissan, which rebounded amid speculation.

European Markets Positioned for Strong Open

European equities are forecasted to begin on an optimistic note, with the FTSE 100 (U.K.) anticipated to open 53 points higher at 8,672, and Germany’s DAX expected to rise 92 points to 21,640. The CAC 40 (France) is projected to increase 26 points, while Italy’s FTSE MIB is likely to add 70 points. Investors await earnings reports from key European players, including ING, ArcelorMittal, Carlsberg, AstraZeneca, and L’Oréal. Meanwhile, the Bank of England is expected to make a crucial interest rate decision in its upcoming meeting.

Currency & Commodities Market Update

In foreign exchange, the U.S. dollar dropped to an eight-week low against the yen, as easing trade tensions led to reduced demand for safe-haven assets. The Indian rupee depreciated to a record intraday low of 87.49 per dollar, closing at 87.463.

Meanwhile, the World Gold Council (WGC) indicated that India’s gold demand is set to moderate in 2025 from last year’s peak, as higher gold prices weigh on jewelry purchases. However, investment-driven demand is expected to remain strong amid ongoing economic uncertainties.