European Stocks Set to Rise Following U.S. Debt Ceiling Agreement
European stock markets opened higher after US lawmakers passed a bill to raise the debt ceiling and cap government spending for two years. Mining stocks led gains, up 1.7%, while oil and gas climbed 1% ahead of the June 4 OPEC+ meeting. Global artificial intelligence revenue will reach $180 billion this year and grow to nearly $2 trillion by 2030, and it will be a key driver of semiconductor revenue, according to Morgan Stanley. Friday's jobs data will highlight the challenges the Fed faces heading into the June policy meeting, according to Joe Davis, chief economist at Vanguard.