Japan's Nikkei powers to 1990 'bubble' era high
Japan’s Nikkei share average rallied on Friday to the highest since August 1990, the country’s so-called “bubble” era, driven by a confluence of positive factors from strong earnings to optimism over a U.S. debt ceiling deal.
Apple restricts use of OpenAI
Apple Inc. has restricted the use of ChatGPT and other external artificial intelligence tools for its employees as Apple develops similar technology, the Wall Street Journal reported on Thursday, citing a document and sources.
Apple is concerned about the leak of confidential data by employees who use the AI programs and has also advised its employees not to use Microsoft-owned <MSFT.O> GitHub’s Copilot, used to automate the writing of software code, the report said.
Investors see trouble ahead
Big European companies have delivered significantly stronger than expected first-quarter results, defying a challenging economic backdrop that includes surging inflation and rising interest rates.
But European stocks are down from a 14-month high in April, as investors worry about the health of the global economy, falling customer demand and pressures building on profit margins.
Stocks lifted to month high by U.S. debt ceiling hopes
Global shares hit a one-month high on Friday as markets reflected increased hopes of a U.S. debt ceiling deal that could avoid a potentially calamitous default.
Europe’s STOXX 600 (.STOXX) was up 0.7%, while e-mini futures for the S&P 500 rose 0.2%, following a 0.9% gain for the benchmark Wall Street index overnight.
MSCI’s broadest index of global shares (.MIWD00000PUS) was up 0.2%, hitting its strongest level since mid-April and on course for its biggest weekly gain since late March.
Oil rebounds on fading risk of U.S. debt default
Oil prices rebounded on Friday from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default.
Brent futures rose $1.15, or 1.5%, to $77.01 a barrel by 1205 GMT, while West Texas Intermediate U.S. crude <CLc2> for July expiry climbed $1.16, or 1.6%, to $73.10.
The less active U.S. crude contract for May which is due to expire on Monday was up $1.09 to $72.95.