Tech Stocks Rally as Gold, Copper Hit Records: Markets Wrap
Market Intelligence Analysis
AI-PoweredTech stocks, particularly Micron Technology and Oracle Corp., are experiencing a rally in premarket trading, while gold and copper hit record highs. This is attributed to a 'risk-on liquidity wave' driven by resilient US growth and a lower Fed fund rate. Commodities, including oil, are also seeing gains due to heightened geopolitical tensions.
Market impact analysis based on bullish sentiment with 81% confidence.
Article Context
Micron Technology Inc. climbed more than 3.7% in premarket trading while Oracle Corp. and most members of the Magnificent Seven megacaps advanced. The focus in commodities went beyond record-setting metals, with oil climbing amid heightened geopolitical tensions after the US stepped up a blockade on Venezuela. “Markets are riding a risk-on liquidity wave into year-end as resilient US growth underpins earnings next year, while a lower Fed fund rate eases financial conditions,” said Desmond Tjiang, chief investment officer for equities and multi-asset investment at BEA Union Investment.
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