Global equities extend higher, led by the Nasdaq

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Sovereign yields have been reeled in despite the hot US PCE data today and that has helped lift global equities. Ahead of the US long weekend, it’s the Nasdaq that’s leading the way with a 1.3% rally, followed closely by the S&P 500 up 0.9% and Europe’s Stoxx 600 up 0.9%.

Most indexes are retracing losses from earlier in the week but the Nasdaq is hitting a fresh 9-month high and faces little near-term resistance as the AI boom continues.