Wall Street opened the week with a positive outlook as U.S. stock futures rose, with Dow E-minis up 0.5%, S&P 500 E-minis 0.3% higher, and Nasdaq E-minis following suit. The S&P 500 has climbed 25% year-to-date, bolstered by AI enthusiasm and expected Fed rate cuts. Bitcoin reached a record high above $82,370, fueled by expectations of lighter regulations following the election of pro-crypto candidates and Donald Trump’s return to office.
Meanwhile, European markets followed suit, with the STOXX 600 index up 1.2% despite skepticism over long-term growth. In Asia, Hong Kong stocks declined due to disappointment in China's stimulus package, while Chinese semiconductor shares surged. Japan's Nikkei closed slightly higher.
Investors are closely watching upcoming U.S. inflation data and Fed announcements this week, with a 65% chance of a December rate cut. The dollar remained steady, and oil prices dipped, anticipating increased production under Trump’s pro-drilling policies.
