Global Markets Rise, U.S. Futures Flat After Tech-Led Rally

By Dow Jones Newswires StaffGlobal markets were mostly higher and U.S. futures were flat after rising Tuesday on a tech rally that leap-frogged Nvidia back to the world's most valuable company, and as U.S. labor-market data eased fears over the effect of President Trump's tariffs on the global economy.Labor market data Tuesday showed a better-than-expected 7.4 million job openings in April, according to the U.S. Labor Department. The May jobs report is due at the end of this week.The tech-heavy Nasdaq gained 0.8% on Tuesday, closing in positive territory for the year for the first time since February. Nvidia rose 2.8%, increasing its market capitalization to $3.45 trillion and retaking the crown from Microsoft as the most valuable U.S. company. Broadcom added 3.3%, closing at a record high.U.S. Futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average were flat.Most Asian shares closed higher for the second trading session, tracking overnight gains on Wall Street. In mainland China, the tech-related index ChiNext led the gains, closing up 1.1%, followed by Shenzhen, which rose 0.9%. Japan closed 0.8% higher and Hong Kong's Hang Seng increased by 0.4%.European markets started the day higher with the Stoxx 600 up 0.3%, Germany's DAX up 0.6% and London's FTSE 100 index up 0.04%. European chip companies are following the U.S. higher with STMicroelectronics up 4.75% and ASM up 1.3%. In London, miners are leading the index higher, reversing Tuesday's falls. Fresnillo was up 2.6%, Antofagasta rose 2.5%, while Anglo American and Glencore were both up around 1.9%The Wall Street Journal Dollar Index fell 0.2% to 95.5.The German 10-year Bund yield held steady at 2.518%, and the yield on the 10-year U.S. Treasury fell by one basis point to 4.456% from 4.47%. Bond prices and yields move in opposite directions.Oil prices were broadly stable in early trade as investors weighed rising OPEC+ output and the threat of wildfires in Canada's energy hub. Brent crude and WTI were flat at $65.63 and $63.37 a barrel, respectively. The benchmarks rose more than 1% in the previous trading session due to supply concerns after the Alberta wildfires shut in more than 300,000 barrels a day of heavy crude production.Gold futures rose on persistent tariff concerns and a weaker U.S. dollar. Futures are up 0.2% at $3,382.20 a troy ounce.Write to Barcelona Editors at [email protected]