Overview

• U.S. stocks set fresh records on Monday with the S&P 500 and Nasdaq closing at all-time highs, and early Tuesday trading turned higher after a flat futures session as investors leaned into expectations of a Federal Reserve cut this month.
• A multibillion‑dollar AMD–OpenAI chip‑supply pact turbocharged the AI trade, sending AMD up roughly 24% and lifting the Philadelphia Semiconductor Index, with chip and tech shares leading global gains.
• Japan’s Liberal Democratic Party chose Sanae Takaichi as leader, propelling the Nikkei to a record close and pressuring the yen, while a smooth long‑bond sale highlighted expectations for more fiscal support and a slower path for BOJ tightening.
• France’s crisis deepened after Prime Minister Sébastien Lecornu quit just hours after naming a cabinet, knocking Paris shares and the euro on Monday before a tentative stabilization as President Emmanuel Macron gave him two days to find a way forward.
• Safe‑haven and alternative assets surged, with gold hitting a record near $3,977 an ounce and bitcoin hovering around $126,000, while the U.S. government shutdown kept key data offline and put extra weight on Fed officials’ guidance; in India, Sensex and Nifty extended gains past 25,000 on strong domestic buying and headline corporate activity.