2330
+3.02%
UKOIL
−0.58%
STLAM
+7.64%
BTCUSD
+0.05%
By Dow Jones Newswires Staff
Stock markets and U.S. stock futures were up on Thursday, following through on gains in the prior session as Wednesday’s ADP private payrolls report showed unexpected job losses, fuelling bets that the Federal Reserve will cut rates further. The S&P 500 and Dow Jones Industrial Average closed at new record highs, also boosted by gains in the pharmaceutical sector.
Semiconductor stocks were underpinning gains in international equities markets on Thursday after a surge in South Korean chip makers following a deal with OpenAI.
U.S. futures were flat to a touch higher early in European trading hours. In international markets, South Korea’s Kospi closed up 2.7% for a 4.8% gain on the week–a new record high. Shares of Samsung Electronics and SK Hynix surged to multiyear highs after the South Korean memory-chip makers struck initial agreements with ChatGPT maker OpenAI as part of a global artificial-intelligence push. That boosted sentiment across the sector.
In Taiwan, TSMC shares also touched a new record intraday high. Japan’s Nikkei 225 index climbed 0.9%, and Hong Kong’s Hang Seng climbed 1.8%. Markets in China were closed.
In Europe, the Stoxx Europe 600 gained 0.6% in morning trading. In Milan, Stellantis rose 6.9% after it reported late Wednesday a 6.4% jump in third-quarter U.S. sales.
Gold prices inched lower but remained near record highs, supported by expectations that the Fed will cut rates further this year and broader political uncertainty following the shutdown of the U.S. federal government. Futures nudged down 0.2% to $3,888.70 a troy ounce in early trading, but are up more than 3% on the week.
The U.S. dollar was flat against a basket of major currencies but remains under pressure as the U.S. government shutdown continues. President Trump has threatened to fire federal workers during the shutdown. Official data could also be delayed, including Friday’s key U.S. nonfarm payrolls report. The DXY dollar index was last steady at 97.724, near the one-week low of 97.462 reached Wednesday.
Bitcoin was up 0.9% to $118,614 after hitting a high of $119,473 overnight, according to LSEG data.
U.S. Treasury yields were barely changed after falling on Wednesday after the weaker-than-expected ADP private sector jobs data, and the Treasury curve also steepened. The 10-year yield last traded flat at 4.109%, according to Tradeweb data.
Oil prices edged higher as investors weighed growing geopolitical risks against prospects of a looming market surplus. Brent crude and WTI were up 0.2% to $65.51 and $61.92 a barrel, respectively, following three straight sessions of declines.
The Trump administration will provide Ukraine with intelligence for long-range missile strikes against energy targets–including refineries, pipelines and power stations–deep inside Russian territory. Meanwhile, markets await OPEC+’s Sunday meeting, with producers expected to agree on another output hike.
Write to Barcelona Editors at barcelonaeditors@dowjones.com