- An improvement in Sino-US tensions and growing optimism that the Federal Reserve will be able to slow its rate hike pace encouraged bulls to re-enter the global stock markets.
- Index futures on the Nasdaq 100 rose more than 1% as treasury yields and the dollar fell. This increase was aided by significant gains made earlier by Asian technology companies. In US premarket trading, chipmakers Advanced Micro Devices, Nvidia, and Intel all saw gains of 1.3% to 2%, while Tesla, Amazon, Apple, and Alphabet all saw gains of about 1%.
- Risk-taking has increased in recent days as a result of softer-than-expected US data, which many believe will allow the Fed to raise rates in increments of 50 basis points after two consecutive increases of 75 basis points. Vice Chair Lael Brainard, who stated on Monday that it would likely be "appropriate soon to move to a slower pace of increases," supported that point of view.
