Global Stocks Surge Amid Tech Rally and Interest Rate Speculation

World stocks are on track for a strong weekly gain, driven by a rally in tech shares and expectations of reduced U.S. interest rates. Despite U.S. government shutdown concerns, investor enthusiasm remains high, particularly towards AI, while gold prices continue to rise as a safe-haven asset.

Global stocks are making impressive gains this week, buoyed by a rally in technology shares and the anticipation of lower U.S. interest rates, despite looming uncertainties caused by a U.S. government shutdown.

While the U.S. shutdown has created a lack of official labor market data, it has done little to dampen investor spirits, with Wall Street reaching fresh peaks and European markets experiencing their best week since April. In the eurozone, improved services sector PMIs have further bolstered the euro.

In commodities, while oil prices face their biggest weekly drop in months, gold remains resilient, hitting record highs as investors view it as a safe-haven amid dollar volatility and low interest rates.

(With inputs from agencies.)