At a Glance
- Brent crude dipped to $103.50 after jumping more than 4% on Thursday
- Gold rose more than 1% to around $4,191 an ounce
- The euro is on track for a fifth weekly loss, at $1.123
- France’s 10-year yield premium over Germany sits near 136 basis points
Oil cools, but debt and AI funding worries keep investors alert.
World stocks edged up on Friday, and oil slipped after US President Donald Trump said the US would not attack Iran before next month’s midterm elections. That calmed some short-term fears about energy supplies.
Key Details
Brent crude futures eased to $103.50 a barrel. In Asia, MSCI’s index of Asia-Pacific shares outside Japan rose 0.5% but is still heading for a weekly drop of about 0.7%. Japan’s Nikkei barely moved.
Chip stocks stayed in the spotlight. Reuters reported that OpenAI told investors its annualised September revenue was almost $50 billion, below earlier signals. Bloomberg reported it could reach or pass $70 billion by year-end.
Fundraising is piling up too. SpaceX, Broadcom and Oracle are all expected to raise billions to buy advanced AI chips. Nvidia-backed Firmus shelved its $5 billion IPO and will look for private funding instead.
Market Reaction
European shares opened higher, and US futures pointed to gains. US Treasury yields ticked up after a solid 30-year bond sale on Thursday. European borrowing costs mostly fell after a sharp selloff. France’s yield gap over Germany was on track to narrow by nearly 5 basis points this week.
Why It Matters
Higher energy costs, expected rate hikes and growing government debt have driven a months-long global bond selloff. Money is getting pricier, so investors are looking harder at company balance sheets and earnings quality.
Keep an eye on oil, French bond spreads, and the next round of AI funding deals.
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Source: Reuters
