Global Markets Rally as Fed Holds Rates Steady – Tech Stocks in Focus

Equities Climb, Nvidia Soars on AI Policy Shift, Apple Slips Amid Search Traffic Dispute

Global equities are on the rise Thursday following the Federal Reserve’s much-anticipated policy announcement. The central bank opted to leave interest rates unchanged, sparking optimism across equity markets as investors digest the implications for growth and inflation. 

Meanwhile, key tech names saw diverging fortunes, with Nvidia rallying sharply and Apple underperforming the broader market.

Wall Street Cheers Fed Pause, Eyes Labour Data

Wall Street closed higher on Wednesday after the Federal Reserve held its benchmark rate steady, signaling a patient stance amid mixed economic signals. The Fed’s statement acknowledged slowing inflation momentum but emphasized the need for more data before making any move toward a rate cut.

Attention now turns to the U.S. weekly unemployment claims, due at 14:30 CET today, which could provide further insight into labor market resilience — a critical factor in shaping future Fed decisions.

Tech Sector Highlights: Nvidia Surges, Apple Falters

• Nvidia shares skyrocketed 3.1% on Wednesday after reports emerged that the Trump administration plans to roll back export restrictions on AI chips introduced during the Biden presidency. The potential easing of curbs on shipments to China and other international markets was met with enthusiasm from investors, as Nvidia stands to regain access to a major revenue stream.
• In contrast, Apple shares declined 1.1%, underperforming major indexes. The drop followed testimony from Apple executive Eddy Cue, who told a U.S. court that Google’s search traffic declined on Apple devices in April. The admission raises questions about the performance of Apple’s core service partnerships and could pressure ad-related revenue, especially as competition in the search space intensifies.

Forex Market: Dollar Edges Higher

The U.S. dollar strengthened modestly as the Fed’s neutral tone helped reinforce confidence in the greenback:

Currency	Change
EURUSD	-0.1%
GBPUSD	-0.1%
USDJPY	+0.5%
AUDUSD	-0.1%

• The USDJPY pair climbed 0.5% as the dollar gained on rising Treasury yields and strong demand for U.S. assets post-Fed.
• Both the euro and pound slipped marginally amid cautious sentiment in Europe and the UK, where economic data has pointed to slower growth.

Stock Market Indices: Asia and U.S. Lead Gains

Equity benchmarks across major markets posted gains, led by tech-heavy indexes and Asian bourses:

Index	Change
DJI (Dow Jones)	+0.6%
NIKKEI (Japan)	+0.9%
HK50 (Hong Kong)	+1.0%
AU200 (Australia)	+0.4%

• The Hong Kong index led regional advances, buoyed by optimism over relaxed U.S. chip export rules and improved risk appetite.
• Japan’s Nikkei rose 0.9%, supported by gains in chip and electronics stocks.
• The Dow Jones Industrial Average added 0.6%, with cyclicals and technology names contributing to the advance.

Commodities: Oil Recovers Slightly, Gold Softens

Commodity	Change
#C-BRENT	+0.2%
OIL (WTI)	+0.2%
XAUUSD (Gold)	-0.3%

Oil prices stabilized, recovering after recent losses as traders await fresh demand signals from the U.S. economy. Meanwhile, gold dipped 0.3%, with investors shifting away from safe havens amid improved equity sentiment and a stronger dollar.

Market Outlook: Focus Turns to Jobs Data and Trade Policy

Today’s jobless claims data will be key in assessing whether the U.S. labour market remains robust or is beginning to cool — a trend that could steer future Fed moves.

Additionally, markets are watching for confirmation and details on the potential AI export policy rollback, which could be a game-changer for semiconductor and AI-related stocks globally.

Final Take

Markets are riding a wave of optimism after the Fed’s wait-and-see approach and positive signals from the tech policy front. However, with ongoing geopolitical tensions, evolving trade policies, and key data still ahead, volatility may return quickly.

Traders should remain vigilant, especially in tech and FX markets, where directional shifts could be triggered by even small policy updates or surprises in upcoming data.