AI optimism rises, European stocks set for best week since May, US stock futures collectively climb in pre-market trading, London copper hits new yearly high.

AI optimism rises, European stocks set for best week since May, US stock futures collectively climb in pre-market trading, London copper hits new yearly high.

October 3rd, as market bets on Fed rate cuts intensified, the Stoxx Europe 600 Index rose by 0.4%, reaching a record high. European stocks are set for strong weekly gains, with bank stocks and mining stocks leading the rally. In U.S. pre-market trading, boosted by tech stocks, all three major U.S. stock index futures rose. The S&P 500 Index is on track for a sixth consecutive gain, marking its longest winning streak since July. In the bond market, the yield on the U.S. 10-year Treasury rose by 1 basis point to 4.1%. The U.S. dollar index fell 0.12% to 97.77. Most commodities rose, with gold, silver, and crude oil all up. Copper prices surged, and London copper futures soared to a year-to-date high of $10,577 per ton. Cryptocurrencies were weak, with Bitcoin and Ethereum declining. - The Stoxx Europe 600 Index rose 0.4%, hitting a record high. - The Euro Stoxx 50 Index opened up 0.35%, the UK FTSE 100 Index rose 0.49%, France's CAC 40 Index rose 0.28%, and Germany's DAX Index rose 0.18%. - S&P 500 futures rose 0.2%, Nasdaq 100 futures rose 0.3%, and Dow Jones futures rose 0.2%. - The Euro Stoxx 50 Index rose 0.42%, the UK FTSE 100 Index rose 0.49%, France's CAC 40 Index rose 0.28%, and Germany's DAX Index rose 0.18%. - Tesla rose 2% in U.S. pre-market trading, after falling more than 5% in the previous session. - The yield on U.S. 10-year Treasuries rose by 1 basis point to 4.1%. - Spot gold was quoted at $3,863.81 per ounce. - Spot silver was quoted at $47.35 per ounce. - Brent crude oil rose 0.9% to $64.7 per barrel. - Copper prices surged, with London copper futures soaring to a year-to-date high of $10,577 per ton. - Bitcoin and Ethereum fell 0.7%. S&P 500 futures rose 0.2%, Nasdaq 100 futures rose 0.3%, and Dow Jones futures rose 0.2%. This round of gains was driven by tech stocks. On the news front, Japan’s Hitachi partnered with OpenAI in energy and related infrastructure, while Fujitsu expanded its partnership with Nvidia. With a new wave of major AI partnerships, investors are betting that tens of billions of dollars pouring into the AI sector will turn into profits, and tech stocks continue their rally. The resulting optimism has eased investors' concerns about the Trump administration’s plan to cut thousands of federal jobs on the second day of the government shutdown. Meanwhile, due to the U.S. government shutdown, the weekly initial jobless claims data scheduled for Thursday was postponed, and traders are coping with the impact of a temporary halt in economic data. The U.S. Department of Labor’s non-farm payrolls data due on Friday may also be delayed due to the government shutdown. Tesla rose 2% in U.S. pre-market trading after dropping more than 5% in the previous session. Tesla reported record vehicle deliveries in the third quarter, ending months of decline and beating analysts’ expectations. Copper prices surged, with London copper futures soaring to a year-to-date high of $10,577 per ton. The immediate trigger for this rally was the declaration of force majeure by Freeport-McMoRan’s Grasberg mine in Indonesia, the world’s second-largest copper mine, after a major accident led to drastically tightened supply expectations. Continuously updating. Risk Warning and Disclaimer The market involves risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the special investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article fit their specific circumstances. Investments made accordingly are at your own risk.