Wall Street Rises as Brazil Assets Plunge After Lula Win
Global stocks mostly climbed as investors awaited major technology earnings and welcomed fresh artificial intelligence developments. Meanwhile, Brazilian financial markets slumped following the surprise presidential election victory of Luiz Inacio Lula da Silva.
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Wall Street equities rose on Monday, led by a 0.8% gain in the S&P 500, as artificial intelligence optimism overshadowed political turmoil in Brazil. The rally followed a series of massive funding announcements in the technology sector, including a planned U.S. initial public offering. Markets face a packed central bank calendar this week alongside inflationary pressures from energy commodities.
