World Stocks Climb on Chip Rally; Dollar Steadies Near One-Year High

Global stocks rose on Thursday as strong earnings from chipmakers boosted sentiment, though investors remained cautious about stretched valuations for AI-related stocks. The dollar steadied near a one-year high.

Market Performance

Major Wall Street indices posted gains, led by chip stocks such as Qualcomm (QCOM) and Micron (MU). Big tech names like Apple (AAPL) and Microsoft (MSFT) also contributed to the positive momentum.

Reasons for the Rally

The gains were primarily driven by better-than-expected earnings from chipmakers, signaling continued strong demand for semiconductors used in AI and cloud computing. However, investors remain wary of high valuations in AI stocks.

Dollar Movement

The U.S. dollar steadied near a one-year high as markets awaited U.S. inflation data due later this week, which could influence the path of interest rates.

Sector Moves

The tech sector saw broad gains, with a focus on AI-related names. However, individual stock performance varied based on earnings results and forward guidance.