Global equities gained momentum on Tuesday, bolstered by strong technology sector performance and a significant rally in gold, while France reported its lowest budget deficit since the pandemic, signaling a recovery in public finances.
Tech stocks led the charge, with software company Palantir Technologies Inc. underpinning the bullish sentiment following better-than-expected results. Nasdaq 100 futures advanced 0.5%, reflecting optimism around the tech sector, while S&P 500 futures traded flat.
The precious metal market witnessed a dramatic surge, with gold rallying 6% to trade just shy of the $5,000 mark as investors flocked to safe-haven assets.
In Europe, France’s economy showed signs of robust recovery, reporting its smallest budget deficit since the onset of the Covid-19 pandemic. The news comes after the government successfully passed its 2026 budget, with Prime Minister Lecornu navigating two no-confidence votes on Monday, affirming political stability.
Meanwhile, French asset manager Amundi SA saw its shares soar more than 6% after announcing better-than-expected earnings and initiating a share buyback program, further boosting European sentiment.Across broader markets, European stocks rose by an average of 0.3%. Asian markets displayed stronger gains, with Japan’s Nikkei 225 index climbing over 3% and China’s CSI 300 adding 1%. Hong Kong’s Hang Seng, a tech-heavy index, managed to trade flat after recouping earlier losses, indicating a mixed day for some regional benchmarks despite the overarching positive trend.