Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on US President Donald Trumps ongoing assault on international trade.
US copper futures widened their premium to the London benchmark overnight after Trump announced plans to impose a 50 tariff on copper imports. He said the levies would come into effect on August 1.
Trump also threatened a punitive 50 tariff on Brazils exports to the U.S. on Wednesday and issued tariff notices to seven minor trading partners.
The latest tariff moves did little to rattle markets as European stocks gained, with Germanys up 0.1 and UKs FTSE 100 rising 1 to their respective all-time highs.
MSCIs broadest index of Asia-Pacific shares outside Japan added 0.5. on US stock futures took a breather, with Nasdaq futures down 0.1 after the tech-heavy index closed at a record high on Wednesday.
