Microsoft rallies to fresh high after revealing AI-boosted Copilot for Office| MarketTalk: What’s up today? | Swissquote

Show notes

The rally in US stocks extended on the back of good bank earnings and AI. Microsoft jumped up to 6% to a fresh all-time-high yesterday as progress on the regulatory front regarding the acquisition of Activision Blizzard, and the news that its Microsoft 365 Copilot, based on OpenAI’s artificial intelligence, will be broadly available and cost $30 per month per user got investors rushing back to the stock and extend the November-to-date rally to 72%! The S&P500 and Nasdaq 100 to fresh highs since the first months of 2022.
On the data front, the softer-than-expected retail sales and production data from the US came to soften the Federal Reserve (Fed) hawks’ hands yesterday, and kept the US yields downbeat, which also helped boost stock valuations in parallel to earnings.
The US dollar index consolidates at the lowest levels since April 2022, The EURUSD bounced lower after hitting 1.1275 on dovish comments from European Central Bank (ECB) officials.
Across the Channel, softer-than-expected UK inflation sent Cable below 1.30.
Today, all eyes are on Goldman Sachs, Netflix and Tesla earnings.
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