AI Stocks Drive Nasdaq to Record High, Oil Prices Drop Below $US100
· Business · ABC News (AU), MarketWatch, Hindustan Times
The Nasdaq Composite surged 2.3% to a record high, driven by a rally in AI-related stocks. Meanwhile, oil prices fell below $US100 per barrel, reaching their lowest level since early September, amid renewed hopes for a diplomatic resolution to the US-Iran conflict. The Australian share market is expected to open higher, with ASX futures rising 0.3% to 8,809 points. Wall Street's Dow Jones and S&P 500 also gained, rising 0.7% and 1.5%, respectively. Brent crude futures dropped 3.9% to $99.86 per barrel, while WTI futures fell 4.9% to $95.43.
Why it matters
The surge in AI stocks reflects growing investor confidence in the tech sector, while falling oil prices could ease inflationary pressures globally, impacting energy-dependent economies.
Read the original report — ABC News (AU)
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