Global equities edged closer to record highs, bolstered by robust corporate earnings, particularly in the tech and AI sectors. Japan’s Nikkei rose 1.2%, buoyed by strength in AI and chip-related stocks, while Taiwan and South Korea’s main indices climbed around 1% each, both touching all-time highs on semiconductor optimism.

In Europe, the euro gained ground and the STOXX 600 added about 0.4% after France’s prime minister secured the first of two confidence votes, alleviating fears of political instability. 

On Wall Street, the S&P 500 gained 0.6%, the Nasdaq advanced 0.8%, and the Dow Jones rose 0.5%, extending this week’s strong earnings-driven rally.

Gold continued its rally, reaching new highs, and surged 0.9% to a record $4,241.77 per ounce as investors sought safe-haven assets amid uncertainty. 

The dollar weakened for a third straight session. The U.S. dollar index slipped 0.3%, marking its third consecutive daily decline as investors positioned for potential Federal Reserve rate cuts later this year.

Brent crude oil climbed 0.7%, rebounding from recent five-month lows, aided by U.S. pressure on India to stop purchasing Russian oil. 

Markets also weighed China’s expanded export controls on rare earths, seen as part of a broader U.S.-China trade standoff, with questions about supply chain impact.