Stock markets closed higher overseas: chipmakers and Microsoft saw significant gains
The global market sentiment is still being determined by the recent decline on the US stock market and concerns about the returns of AI investments. In Europe, there was a slight rebound, but the overall picture remains mixed and uncertain. Significant price reactions followed the earnings reports, for example, Adidas fell by 17%. On the Hungarian stock exchange, there was a strong closing, mainly thanks to OTP’s performance, while in the US, chip manufacturers led the rise.
The market was driven and influenced by the lingering effects of yesterday’s major US decline and concerns about the returns on AI investments. While there was some minor recovery in Europe, the overall picture remained uncertain, with several rapid reports triggering sharp price reactions: for example, Adidas fell by nearly 17 percent. Overall, we saw trading driven by nervous, corporate-focused news, without significant improvement. The Hungarian stock market also experienced uncertainty for much of the day, but the end was very strong, mainly thanks to OTP: both the BUX index and OTP reached new historical highs. In the US, the technology sector led the rally: Sandisk rose by 24 percent, and Micron Technology closed 18 percent higher, thanks to the positive earnings report, and Microsoft also rose by 15 percent. The Dow rose by 1.2, the Nasdaq by 3, and the S&P by 1.7 percent.
