Tech Stocks Lead Rally as Oil Prices Ease - Europe Market Wrap

Technology stocks drove gains across the US and Asia as lower oil prices lifted broader sentiment, putting markets on track to end a turbulent week on a stronger footing. S&P 500 futures rose 0.2%, leaving the index near breakeven for the week, while Nasdaq 100 futures gained 0.5%. An ETF tracking chipmakers rose in early US trading alongside gains in optical and crypto-linked stocks. South Korea’s Kospi jumped 2.7%, while Europe’s Stoxx 600 fell 0.5% amid its lower exposure to artificial-intelligence stocks. The improved tone marks a shift from the start of the week, when Brent crude hit a four-month high, 10-year Treasury yields reached their highest level in 19 years and chipmakers came under pressure amid concerns about AI’s potential risks. Since then, a US rate hike has reinforced the Federal Reserve’s inflation-fighting credibility, concerns over Middle East crude supplies have eased and a persistent supply-demand imbalance in semiconductors has continued to support strong profit expectations for chipmakers. The Bank of Japan raised its benchmark rate as expected Friday, though the decision was split. The yen weakened 1.2% against the dollar after two board members voted aga