Global "Everything Rally" Pushes US Futures HIgher As "AI Disruption" Fears Fade

US equity futures are trading higher, driven by positive momentum from Europe and Japan, despite muted trading volumes. The tech-heavy Nasdaq and S&P 500 futures are up, with most sectors showing gains, particularly in the "Mag 7" stocks. European markets hit record highs, fueled by positive earnings reports, while bond yields are slightly up, and the dollar has strengthened. Commodities are also trending upwards, with precious metals leading, and Japan is investing billions in US infrastructure. Earnings reports from various companies are causing significant price movements, both positive and negative. Investors are cautious due to AI's impact, with some rotating towards European equities, and Berkshire Hathaway made major portfolio adjustments. Fed officials are discussing AI's potential impact on interest rates, while the ECB president's future is uncertain. The Stoxx 600 in Europe is performing well, with miners and banks leading the gains in the market. The AI scare is causing investors to diversify, particularly into companies with predictable revenue streams. Asian markets saw gains, supported by Japan's US investment and easing trade tensions.