World shares were mixed on Monday, with technology stocks posting sharp gains while oil prices rebounded from recent lows. The Dow Jones Industrial Average rose 0.3% in early trading, while the S&P 500 gained 0.5%, led by a surge in tech shares. The Nasdaq composite climbed 1.2%, driven by strong performances from major tech companies.
Tech Stocks Lead the Charge
Investors piled into technology stocks amid optimism about corporate earnings and artificial intelligence developments. Apple, Microsoft, and Nvidia all saw significant gains, with Nvidia rising 3% after announcing a new AI chip partnership. The tech-heavy Nasdaq has now risen for three consecutive sessions.
Meanwhile, European markets were mixed. Germany's DAX edged up 0.1%, while France's CAC 40 fell 0.2%. In Asia, Japan's Nikkei 225 closed 0.8% higher, but Hong Kong's Hang Seng index dropped 1.1% amid concerns over China's economic recovery.
Oil Prices Bounce Back
Oil prices recovered after recent losses, with Brent crude rising 1.5% to $78.50 per barrel and West Texas Intermediate gaining 1.6% to $74.20. The rebound came as OPEC+ announced a slight increase in production quotas but remained silent on the UAE's potential pullout from the group. Analysts said the market remains volatile due to ongoing geopolitical tensions and demand uncertainty.
Currency and Bond Markets
The U.S. dollar weakened against major currencies, with the euro rising to $1.09. Treasury yields edged lower, with the 10-year note yielding 4.35%. In Canada, the loonie strengthened slightly against the greenback.
Market participants are now looking ahead to key economic data releases later this week, including U.S. jobs numbers and manufacturing data, which could provide further direction.
