European Stocks Surge Amid Fed's Rate Cut; Tech Stocks Still Under Scrutiny

European stocks continued their upward trend, bolstered by the Federal Reserve's rate cut. However, tech stocks remain under pressure following Oracle's spending warning. While Wall Street futures struggled, European markets showed resilience. Simultaneously, the oil market faces uncertainties, and copper prices hit a record amid geopolitical dynamics.

European stocks experienced a continued rise early Friday, heading for a third consecutive weekly gain. This boost in markets came after the Federal Reserve cut its interest rates, lifting investor confidence despite a tech sector dip triggered by Oracle's cautionary spending and forecast news, which caused Nasdaq declines.

Despite tech sector woes, broader markets showed resilience as the S&P 500 and Dow reached record highs. In contrast, Wall Street futures were down in Asian sessions, reflecting ongoing tech concerns. The Fed's rate cut has prompted expectations of more reductions in 2026, even as further cuts are paused for now.

Meanwhile, global oil prices saw early gains due to supply worries but then faced potential declines due to peace deal prospects between Russia and Ukraine. In commodities, copper prices soared, influenced by China's fiscal promises, while gold experienced a modest increase.

(With inputs from agencies.)