US equity-index futures advanced as traders bet the record-breaking rally driven by enthusiasm for the artificial intelligence trade has further room to run.
Contracts for the tech-heavy Nasdaq 100 Index climbed 0.7% and those for the S&P 500 Index rose 0.2% after both gauges closed at all-time highs on Wednesday. A strong outlook by Cisco Systems Inc. reinforced the bullish narrative for the technology sector, with the company's shares surging 18% in extended trading. Asian shares climbed 0.2%, with South Korea leading with a 1.7% gain.
The gains in equities masked worries about inflation that have driven bets the Federal Reserve will raise interest rates next year. Treasuries broadly held their losses with yields on benchmark 10-year holding near the highest since July and 30-year yields trading above 5%. Investors have sold government bonds after back-to-back US inflation reports this week showed mounting price pressures.
Brent, the global crude benchmark, held losses from the prior session, trading around $105.65 per barrel. The dollar hovered near gains from the three previous days.
Chinese equities, at their highest level since 2021, were set for a 1% advance, with attention on the summit between President Donald Trump and Xi Jinping in Beijing. Technology shares will be closely watched after Alibaba Group Holding Ltd. and Tencent Holdings Ltd. posted revenue that missed estimates. The offshore yuan is on its best winning streak since 2017.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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