Tech Rally Lifts Wall Street; Europe Edges Higher on Fed Cut Bets

U.S. equities advanced Wednesday, led by gains in technology megacaps after a favorable court ruling for Google. The Nasdaq rose 1%, while broader benchmarks also ended in positive territory.
European markets and U.S. futures traded slightly higher early Thursday as investors positioned ahead of Friday’s payrolls report, seen as pivotal for the Federal Reserve’s rate-cut path.
In France, political drama continues as President Emmanuel Macron seeks to shield the government from collapse if Prime Minister François Bayrou’s cabinet loses a confidence vote. Despite the turmoil, Paris pulled off a successful bond sale, underscoring resilient investor demand.
Commodities traded firmer, with iron ore up 1.56% in Singapore to $105 a ton. Meanwhile, gold extended its rally as skepticism over the Fed’s independence lingers. Goldman Sachs reaffirmed its view that bullion could climb toward $5,000 per ounce if monetary policy credibility comes under further strain.
In Italy, Mediobanca rejected an improved €16 billion takeover offer from Monte Paschi, rebuffing the latest push for consolidation in the country’s fragmented banking sector.