Global Stock Markets Rally Amid Fed Rate Cut Speculation

Global stock markets advanced for the fourth consecutive day, buoyed by speculation of a potential U.S. Federal Reserve rate cut. Tech stocks led gains on Wall Street. The dollar weakened slightly, and UK fiscal projections affected the pound. The global rally continued with the MSCI index up 1.10%.

Global stock markets advanced for the fourth consecutive day as anticipation of a U.S. Federal Reserve rate cut continued to bolster investor confidence. Key indices on Wall Street saw gains, driven by a robust performance in the tech sector, notably marked by nearly 7% rise in Dell Technologies' shares following a positive quarterly report.

The anticipation of a December rate cut was bolstered by comments from top Federal Reserve officials, even as economic indicators like jobless claims fell to the lowest level since April. This environment allowed U.S. equities to thrive, though markets will pause for the Thanksgiving holiday.

Elsewhere, the pan-European STOXX 600 index rose, recording its largest gain in two weeks. Amid these developments, the British pound fluctuated due to premature fiscal forecast releases before a UK budget announcement. Currency movements were notable, with the yen weakening on potential Bank of Japan rate hikes, adding a global dimension to market analyses.

(With inputs from agencies.)