Global Stocks Rise as Oil Prices Fall Amid AI Sector Optimism

Global stock markets mostly rose on Wednesday as oil prices fell and investors gained hope for the artificial intelligence sector. U.S. futures were slipping before the release of critical inflation and economic growth data, including quarterly earnings from Nvidia, a bellwether in AI.

The S&P 500 pointed 0.1% lower before the opening bell, while futures for the Dow Jones Industrial Average fell slightly. Meanwhile, Nasdaq futures slipped 0.2%. The Commerce Department will issue its second estimate of U.S. economic growth during the second quarter, showing a sluggish 1.5% pace.

Markets are giving up ground after Canada struck back at the United States with retaliatory tariffs on about $20 billion worth of American goods, including steel and dairy products. A prolonged dispute could raise costs for American businesses and consumers less than 2½ months before the midterm elections.