Global Markets Mixed as Tech Stocks Lead Gains Amid AI Investment Hopes

Wall Street futures traded mixed ahead of the opening bell, following a day where technology stocks propelled major indices higher. The Dow Jones futures indicated a slight rise of about 0.3%, S&P 500 futures hovered near flat, and Nasdaq 100 futures saw a minor dip of approximately 0.2%. Meanwhile, Asian markets experienced a strong rally, with chip and technology stocks spearheading the gains, boosted by the filing of Anthropic's IPO prospectus. Yesterday, Wall Street closed with advances: the Dow gained 0.28%, the S&P 500 rose 0.7%, and the Nasdaq led with an 0.82% increase. The Philadelphia Semiconductor Index surged nearly 2.8%, its sharpest rise since late September. Tesla shares climbed over 5%, Nvidia added about 2%, and Microsoft and Amazon also finished in positive territory. The positive sentiment is largely driven by artificial intelligence, following Anthropic's IPO filing with the U.S. Securities and Exchange Commission, planning to list on Nasdaq under the ticker ANT. Concurrently, Meta announced plans to raise up to $95 billion in equity, Broadcom arranged $63 billion in financing for Anthropic's chip purchases, and SpaceX secured a $40 billion equipment financing deal with Apollo. This confluence of events has reignited interest in AI stocks after weeks focused on costs and debt levels.

Asian markets reacted more robustly, with Tokyo's Nikkei index climbing between 1.9% and 2%, and Seoul's Kospi adding about 3.3%. SoftBank shares jumped over 7%, SK Hynix gained around 7%, and Samsung Electronics strengthened by approximately 5%. Japanese chip equipment manufacturers like Tokyo Electron and Advantest also saw significant gains, while Australia's S&P/ASX 200 index experienced a slight decline. This week is packed with economic events, including a two-day Federal Reserve meeting concluding with an interest rate decision tomorrow. The market anticipates the Fed will likely keep rates unchanged in the 3.75%-4% range, but investors will focus on Chairman Kevin Warsh's outlook for the remainder of the year. Several major companies are also releasing earnings reports, including Coca-Cola, Robinhood, and Boeing today, followed by Microsoft and Alphabet tomorrow, and Amazon and Intel later in the week. A key question across these reports is whether AI investments are yielding returns or if companies will need to continue substantial capital and debt fundraising.

Energy markets showed some relief, with U.S. crude trading around $101 per barrel and Brent around $110, down from recent highs influenced by Middle East tensions. This price moderation offers some easing of inflation concerns, though levels remain elevated and could impact the Fed's forecasts. Bitcoin continues to trade below $80,000. In Israel, the Tel Aviv Stock Exchange closed yesterday with sharp gains ahead of election day, with the TA-35 index up 2%, TA-125 up 1.6%, and the technology index soaring 3.6%, partly due to positive arbitrage with New York. Today, the local market is closed, with attention focused on Wall Street futures, Asian markets, and the U.S. economic calendar.