Tech rebound, earnings optimism, and lower oil prices support global stocks

Global stocks are trading with a cautiously positive tone today as trading resumes in the US after a long holiday weekend, with moves driven mainly by technology momentum, earnings expectations, and easing inflation pressures rather than any single macro shock. The main driver is a renewed rebound in chip and artificial intelligence–related stocks, which is lifting major US indices and supporting risk appetite worldwide. After a late‑June pullback on valuation worries, investors are rotating back into the semiconductor and broader tech trade, helping push the Nasdaq and S&P 500 higher while the Dow also gains. Strength in heavyweight chip makers and suppliers is reinforcing the view that demand for AI and advanced computing remains robust, which is encouraging for global growth and equity markets more broadly. A second key support is growing optimism around the upcoming second‑quarter earnings season, especially for large technology and semiconductor companies. Global shares and US futures are firmer as investors look ahead to results from major tech names and to high‑profile listings and index changes, including the anticipated Nasdaq debut of South Korean chipmaker SK Hynix and the planned addition of SpaceX to the Nasdaq. These events are drawing attention to large‑cap growth and technology stocks, reinforcing the current pro‑risk, tech‑led market narrative. Third, declining oil prices are helping ease inflation concerns and underpin equities. Brent and US crude are trading near multi‑month lows after an OPEC+ decision to increase output, which is seen as reducing energy costs for companies and consumers. While weaker oil prices weigh on energy sector shares, they improve the outlook for inflation and corporate margins in many other industries, providing a supportive backdrop for global stock markets. Taken together, a tech‑driven rebound, upbeat earnings expectations, and softer energy prices are combining to keep global risk sentiment constructive, with volatility measures subdued and most Asian markets following Wall Street’s positive lead, even as some European indices see mild profit‑taking after recent record highs.