Key facts
- Global stocks are on track for weekly gains.
- Microsoft's forecast-beating results and positive outlook on AI spending have alleviated investor concerns.
- Meta Platforms experienced a significant share drop due to high AI project costs.
- The Bank of Japan maintained its interest rates, leading to a decline in the yen.
- Geopolitical tensions in the Middle East continue to be a significant factor for global equities.
Global equities are poised for weekly gains, primarily driven by positive earnings reports from major U.S. technology companies that have helped to mitigate concerns surrounding artificial intelligence expenditures. Microsoft's stock saw a significant surge in premarket trading, with a 9% increase, following its better-than-expected quarterly results and a forecast that assuaged fears about escalating AI investment costs.