AI Demand Boosts Stocks as Oil Prices Ease

Global stocks rose on Monday as evidence of booming AI demand lifted tech shares and oil fell on reports that more supply was leaving the Gulf than previously thought.

The bond market, which last week endured a sixth straight weekly selloff in the face of rising interest rates and a persistently high oil price, rallied with European debt leading gains.

MSCI's All-World index rose 0.4%, while shares in Europe rallied 1.2%. Futures on the Nasdaq rose 1.1% as shares in chipmakers rallied, with Intel up 5.2% and AMD up 2.4% and Super Micro Computer up 3% in premarket trading.

The drop in oil prices eased recent market fears, helping bonds rally after weeks of selloffs. Brent fell 2.6% to $101.2 a barrel as Iran and the United States exchanged new threats and after the Houthis attacked Saudi Arabia's capital.