Global Markets Rise as Inflation Fears Ease and Oil Prices Near $100

World stock markets showed modest gains on Monday, as worries over inflation eased, reducing expectations of further interest rate hikes by the Federal Reserve. U.S. stock index futures dipped slightly, with technology stocks pulling back from recent highs. Chip stocks like Intel fell over 4%, while Micron Technology dropped 0.3%. Nvidia edged up 0.5% after hitting a record high on Friday.

The tech-heavy Nasdaq had risen to new peaks in the previous session after weaker-than-expected jobs data lowered the likelihood of a Fed rate hike this month. Traders now see an 80% chance of the Fed holding interest rates steady, though a December rate hike is still largely expected. Benchmark 10-year U.S. Treasury yields remained steady near multi-year highs at 5.28%, amid concerns over government finances and elevated energy costs.

Brent crude futures were slightly higher but hovered near the $100-a-barrel level, as concerns over Gulf oil infrastructure disruptions persisted. Investors will monitor speeches from top global central bankers, including Federal Reserve Governor Christopher Waller, for clues on inflation and monetary policy. Meanwhile, PTC surged 37% after Schneider Electric agreed to acquire the software firm for about $22.6 billion.

Global markets showed mixed movements. Tokyo’s Nikkei 225 gained 2.4%, while France’s CAC 40 lost 1.1%. Germany’s DAX was little changed, and Britain’s FTSE 100 rose 0.5%. In Asia, Australia’s S&P/ASX 200 edged up less than 0.1%, and Hong Kong’s Hang Seng gained 0.3%. Interest in AI-related shares boosted Tokyo Electron and SoftBank Group in Japan, while TSMC climbed 3% in Taiwan.