Global Markets Rise: Bull Market and Technology Companies

Global Markets Rise

As the bull market on Wall Street approaches its third anniversary, the S&P 500 has seen its longest rising streak since May, with a consecutive seventh session of gains. Advanced Micro Devices Inc. (AMD) made a significant impact on the markets with its agreement to establish artificial intelligence infrastructure with OpenAI.

Stock Performance

Following this development, AMD shares gained 24%, while rival company Nvidia Corp. experienced a decline. The Nasdaq 100 increased by 0.8%. The yield on the 10-year U.S. Treasury bonds decreased by 3 basis points yesterday, closing with the Bloomberg Dollar Index up 0.3%.

Asian and European Markets

While U.S. and European indices traded sideways in futures, Asian stock markets generally posted gains. Japanese stocks continued to rise with the election of an economically stimulus-friendly figure as the country's new leader. This situation led to a depreciation of the yen and an increase in the yields of long-term bonds.

Japan Stock Exchange

On Monday, the Nikkei index rose by 0.48%, reaching a new peak this morning. Following AMD’s significant deal with OpenAI, AI and chip stocks in Asia also gained.

Bond Auctions and Demand

The 30-year government bond auction in Japan saw strong demand, exceeding the 12-month average demand. The MSCI carried the Asia-Pacific Index rise into the 7th day, maintaining the positive atmosphere in the markets.

Market Holiday Status

Financial markets in China are closed today due to an official holiday. Similarly, Hong Kong markets are also on holiday. Oil prices have stabilized after a two-day increase due to an agreement by OPEC+ for a modest increase in supply. Brent crude oil was trading above $65 per barrel on Monday with a 1.5% increase, while West Texas Intermediate remained around $62.