Global Markets Rally Amid Tech Surge and Policy Easing Prospects

Asian shares surged as Meta and Nvidia led a tech revival. The Federal Reserve's hint at potential rate cuts in September energized global bonds and commodities. European and Nasdaq futures also showed positive trends. However, a strengthening yen impacted Japan's exporters, and Chinese manufacturing data pointed to economic concerns.

Asian shares rallied on Thursday, driven by a resurgence in tech stocks, notably Meta and Nvidia, while expectations of policy easing in the U.S. boosted global bonds and commodities. The Federal Reserve maintained its interest rates but suggested a potential cut in September, prompting traders to speculate on similar moves by the Bank of England.

European futures indicate a higher opening, with EUROSTOXX 50 futures up 0.2% and FTSE futures rising 0.3%. Nasdaq futures gained 0.9% as Meta Platforms shares soared 7% post-earnings. The Japanese yen experienced a significant rally, which impacted Japan's Nikkei, causing a 2.7% drop due to concerns over exporter profitability.

In the tech sector, Nvidia surged 13%, adding substantial market value, while Apple and Amazon.com prepared for their earnings reports. Fed Chair Jerome Powell's dovish comments about future rate cuts further fueled market optimism. Meanwhile, oil prices spiked amid Middle East tensions, and gold remained steady.

(With inputs from agencies.)