Global stocks rallied on Monday as renewed optimism about artificial intelligence lifted technology shares and pushed the Nasdaq Composite 2.3% higher, to within 0.02% of its June 1 record of 27,190 points. MSCI World gained 1.3%, its biggest rise in six weeks, while the S&P 500 advanced 1.5%. Bitcoin rose 6% through $86,000. Oil prices fell for a fourth consecutive session, with Brent down 4% and WTI down 5%, although average US diesel prices reached a record $6.51 a gallon. European political risk also weighed on markets: the 10-year French-German yield spread reached 104 basis points, its widest since July 2012, and remained above 100 basis points on Monday. The cost of insuring French bonds against default was at its highest since 2020. German Chancellor Friedrich Merz was described as clinging to power after his party suffered its worst regional election defeat in postwar Germany. Separately, US President Donald Trump's approval rating fell to 32%, a career low, according to a Reuters/Ipsos poll, with high living costs and the Iran war among the reported pressures ahead of the November 3 midterm elections. Markets are due to focus next on September flash purchasing managers' indexes, euro zone and Federal Reserve officials' speeches, UK public-sector borrowing, and a $69 billion US two-year Treasury note auction.