AI-Fuelled Rally Lifts Global Markets Ahead of Fed Decision

NEW YORK, Oct 27 — Global equity markets advanced on Monday after renewed enthusiasm surrounding artificial intelligence boosted technology shares and improved investor risk appetite ahead of the US Federal Reserve’s policy meeting.

Wall Street ended higher, led by gains in technology counters after AI firm Anthropic’s initial public offering filing revealed strong revenue growth, reviving confidence in the sector. The Nasdaq climbed 0.82 per cent, while the S&P 500 and Dow Jones Industrial Average gained 0.70 per cent and 0.28 per cent respectively.

AI-Fuelled Rally

European markets also closed firmly higher, tracking the positive momentum from the US technology sector and benefiting from softer oil prices.

In Asia, trading was mixed. Hong Kong and mainland Chinese equities recorded gains, while South Korea’s Kospi retreated as investors adopted a cautious stance ahead of earnings releases from major chipmakers Samsung Electronics and SK Hynix. Japan’s Nikkei also ended lower.

Investors are now focused on a series of major US earnings announcements, including Microsoft, Alphabet and Amazon, alongside the outcome of the Federal Reserve’s two-day policy meeting, where interest rates are widely expected to remain unchanged.

#businessnews