bet

Global stock markets have climbed as investors continue to bet on bright prospects for the tech giants driving the AI boom.

In the United States, all three major stock indexes rose on Tuesday, led by the tech-heavy Nasdaq Composite, which gained 1.18 percent.

The benchmark S&P 500 rose 0.6 percent, while the narrower Dow Jones Industrial Average edged up 0.03 percent.

Five of the “Magnificent Seven” tech stocks rose, led by Tesla, up 4.04 percent.

Amazon gained 1.61 percent, while Apple and Alphabet gained 0.93 percent and 0.9 percent, respectively.

Nvidia, the world’s most valuable public company, rose almost 1 percent after announcing a $3bn investment in Meta’s equity offering.

Meta fell 1.64 percent, while Microsoft fell 0.24 percent.

Other big movers in tech included Advanced Micro Devices, Broadcom and Intel, which gained 5.45 percent, 4 percent and 3.61 percent, respectively.

Asia Pacific markets rally

Gains continued in the Asia Pacific on Wednesday, with stock markets in Japan, South Korea, Taiwan and Australia climbing.

The KOSPI in Seoul led the gains, with the benchmark index up 5.84 percent as of 03:00 GMT.

The surge came as South Korea’s SK Hynix, one of the world’s top three memory chip makers, announced blockbuster third-quarter results on Wednesday, with operating profit soaring about 630 percent year-on-year to 83.33 trillion won ($62.8bn).

SK Hynix shares listed in South Korea surged more than 8 percent following the results.

In Tokyo, the benchmark Nikkei 225 was up 1.26 percent, while the TAIEX in Taipei was up 1.32 percent.

The S&P/ASX 200 in Sydney was up 0.11 percent.

Investors are keenly anticipating upcoming earnings reports from major tech players as they try to gauge whether their massive investments in AI will pay dividends.

Microsoft and Alphabet report their latest results on Wednesday, followed by Amazon on Thursday and Apple on Monday.

On Monday, AI giant Anthropic filed paperwork for its hotly anticipated IPO, reporting a net loss of $80.7bn in the first half of 2026 on $16.3bn in revenue.

Tech firms have poured hundreds of billions of dollars each into AI infrastructure, fuelling debate over whether a speculative market bubble could be forming similar to the one that preceded the 2000 dot-com crash.

Global AI investment is forecast to hit $2.7 trillion in 2026 and $3.6 trillion in 2027, according to Gartner, a technology insights company.

Oil prices, which have been elevated since the start of the US-Israel war on Iran, rose about 1 percent as Asian markets opened on Wednesday amid the ongoing conflict in the Middle East, including hostilities between Saudi Arabia and Yemen’s Iran-aligned Houthis.

Futures for Brent crude, the global benchmark, stood at about $115 a barrel, up 59 percent from before the war began.

The United States stock market has hit an all-time high as excitement around artificial intelligence continues to fuel a buying frenzy on Wall Street.

The S&P 500, the benchmark stock index, closed 0.58 percent higher on Tuesday, topping the previous peak reached in mid-August.

The Nasdaq Composite, which is more heavily weighted towards tech stocks, also hit a record high, finishing up 0.45 percent.

Tech stocks were among the top performers, with each of the “Magnificent Seven” apart from Meta closing higher.

Amazon led the pack with a 1.95 percent gain, followed by Microsoft and Tesla, which rose 0.78 percent and 0.51 percent, respectively.

Apple and Alphabet both rose 0.22 percent, while Nvidia gained 0.14 percent.

Meta, which has risen more than 20 percent since the launch last month of its new AI assistant, Muse, fell 0.41 percent.

Other big movers in tech included Marvell Technology, which rose 5.81 percent, and Cisco, which gained 4.54 percent.

Technology, AI

Keith Lerner, chief investment officer and chief market strategist at Truist Advisory Services in Atlanta, Georgia, said the market rally should be seen as a “technology and AI surge”.

“Every bull market has a dominant theme, and technology and AI remain this market’s dominant theme,” Lerner told Al Jazeera.

“Technology and communication services were the only two S&P 500 sectors to rise last month, while the other nine declined.”

Wall Street has shrugged off a host of challenges facing the US economy amid hyperscalers’ multibillion-dollar investments in AI.

Despite the energy crunch caused by the US-Israeli war on Iran and a sell-off of US government bonds partly driven by ballooning government debt, the market is well on track to record its fourth consecutive year of double-digit returns.

The S&P 500 has risen 14 percent so far in 2026, while the Nasdaq Composite is up 18.78 percent.

Lerner at Truist Advisory said the market rally had the potential to continue through the end of 2026 given historical trends and expectations for strong corporate earnings.

“We do not expect a straight line higher for markets,” Lerner said.

“Still, the fourth quarter of midterm-election years has produced an average gain of 7 percent and has been positive 84 percent of the time since 1950.”

Lerner said that rising interest rates posed the biggest risk to the upward trend.

“Still, on balance, the weight of the evidence suggests this bull market still has more upside potential,” he said.

Asian stock markets fell on Wednesday, with key indexes in Japan, South Korea and Hong Kong slumping in morning trading.

The Nikkei 225 in Tokyo, Kospi in Seoul and Hang Seng Index in Hong Kong were down 0.79 percent, 1.36 percent and 0.71 percent, respectively, as of 02:30 GMT.

Oil prices, which have been elevated since the start of the war on Iran, rose on Wednesday as traders weighed the fallout of fighting between forces aligned with Yemen’s internationally recognised government and the Iran-aligned Houthis.

Brent crude futures for December delivery stood at $101.45 a barrel as of 02:30 GMT, up 0.87 percent.