AI trade outlook brightens on falling oil and Meta’s Muse agent ahead of Xi-Trump meeting

AI Summary

The global AI trade outlook is improving due to falling oil prices, the launch of Meta Platforms' Muse agentic AI tool, and anticipation for the upcoming China-US leadership summit. Technology stocks, especially in AI and semiconductors, have rallied strongly, driving major indices like Nasdaq-100 to record highs.

The global AI trade is staging a comeback, as a confluence of falling oil prices, Meta Platforms’ launch of a new agentic tool, and anticipation surrounding the China-US leadership summit reignite interest in technology stocks. The Nasdaq-100 Index hit an all-time high on Tuesday, surpassing the previous record set in June. In Asia, China’s chip-heavy Star Market 50 Index and South Korea’s Kospi gauge, which is heavily weighted towards memory chipmakers, have been bouncing back since July...