Tech Leads a Global Lift: Stocks, Futures Climb as Wall St. Stretches Its Winning Streak

The original story by Elaine Kurtenbach for AP.

Global markets started the week in a good mood, with US futures and world shares edging higher and tech once again setting the pace. South Korea stole the spotlight in Asia: the Kospi jumped 2.8% to a fresh record at 4,221.87 as chipmakers and shipbuilders ripped higher. SK Hynix surged 11% on buzz around its AI tie-ups with Nvidia, and Samsung Electronics added 3.4%. Shipyard names found tailwinds after Beijing said it will scrap extra port fees on US-invested or US-flagged vessels following last week’s Trump–Xi meeting. Japan took the day off for a holiday.

Europe opened firmer across the board. Germany’s DAX climbed 0.9% to 24,165.15, Paris’ CAC 40 added 0.3% to 8,145.80, and London’s FTSE 100 inched up 0.1% to 9,731.48. Stateside, futures hinted at more gains after Friday’s pop: S&P 500 contracts were up about 0.3% and the Dow’s up 0.1%. The Nasdaq’s momentum carried over from a session where the composite rose 0.6% to 23,724.96 and Amazon did the heavy lifting — its shares jumped 9.6% after a blowout profit, helping the S&P 500 finish up 0.3% and the Dow add 0.1%.

Oil wobbled after an early bounce. With the UAE opening a major energy summit just as OPEC+ said it will pause planned production increases for early 2026, US crude flipped to a small loss, down 23 cents to $60.75 a barrel, while Brent slipped 21 cents to $64.56.

China’s markets firmed even as growth signals cooled. Hong Kong’s Hang Seng rose 1% to 26,158.36 and the Shanghai Composite gained 0.6% to 3,976.52, while Taiwan’s Taiex added 0.4%. Tech stocks did the heavy lifting in Hong Kong, but jewelry retailers slumped after Beijing trimmed tax rebates on gold sales — Chow Tai Fook fell 8.7% as the policy shift tapped the brakes on a frenzy that’s helped push bullion to records. Gold itself was still bid early, up nearly 0.9% to $4,032.90 an ounce, though that’s shy of the recent peaks near $4,400. On the macro side, a private China manufacturing PMI cooled to 50.6 in October from 51.2, while the official gauge slipped to 49 from 49.8, underscoring a patchy factory landscape.

Politics lingered in the backdrop. There was little immediate market reaction to President Donald Trump’s claim on “60 Minutes” that Xi Jinping won’t move on Taiwan while he’s in office — an issue Trump said didn’t come up in their South Korea talks, which focused on trade.

The week ahead stays earnings-heavy on both sides of the Atlantic. After a powerful rally since April, investors want profit growth to match the hype — or at least justify stretched multiples — especially in Big Tech. Skepticism also persists that the latest trade truce chatter will translate into lasting calm.

In currencies, the dollar strengthened to ¥154.15 from ¥153.05, while the euro eased to $1.1518 from $1.1533.