Global stocks climb as tech rebounds after selloff
AI Market Summary
A sharply weaker-than-expected US June jobs report and downward revisions to prior months reduced perceived urgency for further Fed tightening, easing global rate-pressure. With US markets shut, the shift played out via broad gains across Asian and European equities, led by a rebound in beaten-down technology names and a partial recovery in JPY. Lower expected borrowing costs also supported European indices versus US valuations.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT+0.04%
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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U.S. payroll growth in June came in far below expectations, and the prior two months’ figures were also revised down, easing fears of an imminent Federal Reserve rate hike. Global equities broadly advanced on the shift in rate expectations. South Korea’s KOSPI jumped 5.8% and Japan’s Nikkei 225 rose 1.5%, while major European indexes also moved higher. U.S. markets were closed for the Independence Day holiday.
