Global equities advanced as technology shares powered a broad rally, while gold and copper climbed to fresh record highs, underscoring strong demand for growth assets and inflation hedges. European stocks traded little changed, while equities in China and Japan gained about 1%. US equity futures pointed to gains of between a quarter and half a percent, signaling a positive start to the session on Wall Street.
Gold surged to $4,443 an ounce, supported by expectations of interest-rate cuts and renewed geopolitical tensions tied to Venezuela. Copper also pushed to record levels, reflecting optimism around electrification and infrastructure spending.
Looking ahead, European industrial companies are forecast to deliver earnings growth of about 12.5% in 2026, after a year marked by uncertainty. The rebound is expected to be driven by rising demand for data-center electrification and a broader recovery in industrial activity.
In energy markets, Russia’s liquefied petroleum gas exports to China rose to a record 1.6 million tons, making the country the world’s second-largest exporter, behind Qatar, and highlighting the deepening energy ties between Moscow and Beijing.
On the diplomatic front, US special envoy Steve Witkoff said talks with Ukraine in Miami were constructive, as Washington continues to press for progress toward a peace agreement later this year.
The combination of resilient growth themes, easing monetary policy expectations and shifting geopolitical dynamics continues to underpin risk appetite across global markets.