Nasdaq leads Wall Street gains as falling oil prices ease inflation concerns

Wall Street futures were led higher on Friday by the Nasdaq 100, which rose 0.56% (166.25 points), pushing the tech index toward weekly gains. Dow E-minis rose 83 points (0.16%) and S&P 500 E-minis 21.5 points (0.28%).

The fall in oil prices, for a third straight day, eased inflation concerns. Brent and WTI each lost nearly 2%, with WTI falling below 100 dollars, as markets grew more optimistic that Saudi Arabia will restore the East-West pipeline.

Meanwhile, the Bank of Japan raised interest rates by 25 basis points on Friday, joining the global cycle of rate hikes.

Investors also reassessed demand for Artificial Intelligence, after industry leaders called for a slowdown in development — although it is still unclear what this concretely means.

Friday is also “triple witching” day, the quarterly expiry of derivatives contracts, which could increase volatility in the markets.

Source: Reuters