Stocks Rally With Asia Hitting Record on AI Trade | The Opening Trade 5/4/2026
Bloomberg Tech
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Generative AI
US equity futures pointed to further gains after Asian shares hit a fresh record on optimism around the artificial intelligence trade and stronger-than-expected earnings from megacap tech companies. The yen briefly spiked higher as traders remained on edge over possible intervention by the Bank of Japan. Brent crude whipsawed, initially dropping 2.4%, then reversing those losses to trade above $108 a barrel. The fluctuations came after President Donald Trump said the US would begin guiding ships not involved in the Iran conflict through the Strait of Hormuz from Monday.