▸ US eco­nomic data tops expect­a­tions and pushes global stocks higher

▸ Amer­ican tech stocks return to form, with Nvidia rebound­ing after fall

▸ UK shares close higher after Budget day as chan­cel­lor’s plans wel­comed

Global stocks ral­lied yes­ter­day, fol­low­ing bet­ter than expec­ted US eco­nomic data. The tech-heavy Nas­daq Com­pos­ite index had climbed 1 per cent by early after­noon in New York, with Nvidia rebound­ing

1.7 per cent after the pre­vi­ous day’s falls. The blue-chip S&P 500 was up 0.9 per cent.

Dell rose 6.4 per cent after the tech com­pany raised its annual fore­casts, due to strong demand for its AI serv­ers.

“The mar­ket is digest­ing the Google move,” said Man­ish Kabra, head of US equity strategy at Société Générale, refer­ring to the release of Google’s Gem­ini 3 model, which promp­ted Nvidia’s ini­tial sell-off. “If Google is one of the lead­ing AI con­tenders, it raises expect­a­tions on AI long-term cap­ab­il­it­ies.”