The U.S. dollar strengthened against the Japanese yen in currency trading, while the euro dipped slightly.
Asian markets responded positively to gains on Wall Street, with technology stocks leading the rally. The Nikkei 225 index in Japan surged, while Australia's S&P/ASX 200 saw a modest increase. South Korea's Kospi also climbed, while Hong Kong's Hang Seng index dipped and the Shanghai Composite remained stable. The recovery of U.S. indexes contributed to the optimism in Asian markets.
The technology sector continues to dominate market narratives, with Nvidia's stock reaching a new record. Uber Technologies also made headlines with its stock rising after announcing plans for stock buybacks.
Inflation remains a critical concern, and the Federal Reserve's efforts to manage inflation have included interest rate cuts. Longer-term Treasury yields have begun to climb, reflecting investor apprehension.
U.S. Steel's stock surged after the company filed a federal lawsuit challenging President Joe Biden's decision to block a merger. Market participants are closely monitoring potential policy shifts under the incoming administration of President Donald Trump.
Benchmark crude prices fell in the energy sector.