Markets on July 10: Nasdaq gains 1.3% amid Meta and Micron rally, gold holds its ground, and Hang Seng rises 3.5% for the week

Global markets finish the week on a positive note. The main driver of growth remains the technology sector, linked to the development of artificial intelligence and the semiconductor industry. Despite ongoing tensions in the Middle East, investors continue to actively buy shares of technology companies, supporting global stock indices.

USA hits new highs thanks to Micron and Meta, Europe lags behind

USA: The American market continues to storm local peaks. The Nasdaq Composite rose by 1.3%, the S&P 500 added 0.8%, and the Dow Jones increased by 0.3%. The large tech sector remains in the lead: shares of Micron Technology rose after announcing significant investments in domestic production, while Meta strengthened its position amid the integration of new AI developments.

Europe: Continental markets show near-zero dynamics: the STOXX 600 and the British FTSE 100 added a modest 0.1%. The main factors pressuring European investor sentiment remain weak macroeconomic indicators from the Eurozone and uncertainty in trade relations with the USA.

Confident rise in Asia: Hang Seng gained 3.5% for the week

Asian stock markets closed with a strong upward momentum. The global AI boom is encouraging investors to actively build long positions in shares of Asian semiconductor giants and IT platforms.

Stabilization of yields in the USA and a strong dollar

Bond market: Yields on US government bonds have slightly adjusted downward after successful auctions for the placement of new US debt. The yield on 10-year US Treasuries was recorded at 4.55%. Traders continue to carefully analyze the rhetoric of the Fed.

Currency market: The dollar maintains strong positions, supported by high inflation expectations. The DXY index is trading at 100.9 points. The EUR/USD pair is consolidating near 1.14, while the Japanese yen holds at 161.7 per dollar ahead of upcoming macroeconomic triggers.

Consolidation of oil and IMF inflation forecasts

Commodities: After a sharp rise at the beginning of the week, oil prices have stabilized: Brent is trading in the range of $75.4–76.0 per barrel, while WTI holds around $71.7. The market hopes for diplomatic dialogue between the USA and Iran regarding the Strait of Hormuz. Gold remains near historical highs at $4,130 – $4,140 per ounce, fueled by geopolitical risks.

Macroeconomics: The IMF has maintained its baseline GDP growth forecast for the world in 2026 (3.0%), but has downgraded inflation expectations. The energy sector has been identified as the main inflationary trigger.

IMF inflation expectations for 2026:

Important macro events on July 11 (Astana time, GMT+5):

Conclusion: Financial markets maintain a positive outlook thanks to the ongoing growth of the technology sector and high investor interest in companies related to artificial intelligence. However, geopolitical risks, inflationary pressures, and the high likelihood of interest rates remaining at peak levels remain key factors of uncertainty for global markets.