UAE’s exit from OPEC+ coordination has little short-term oil impact. Geopolitical issues dominate. Markets have rallied, but easy gains are over. Selectivity is key, favoring AI capex and select energy and healthcare stocks. The Fed is unlikely to pivot soon. Earnings will drive markets, but Middle East risks remain.
Global Market Today: Asian stocks rise following chip rally, oil slips
Asian stocks climbed as investors favored semiconductor shares due to AI demand. Oil prices declined as energy supply disruption fears eased. South Korea’s Kospi index