The stock market enjoyed a broad rally, however, largely on account of core CPI—which strips out food and energy costs—slowing for the first time since July, hitting 3.2 percent annually, down from November’s 3.

The yield on the 10-year Treasury has recently soared toward its highest level since 2023, injecting nervousness into the U.S. stock market that's knocked indexes from their records.

Nvidia, AMD, and Broadcom sold off after the Biden Administration released new AI chip export rules late Friday.

British equities were broadly higher on Thursday, building on their strong gains seen in the last session as markets eyed potential interest rate cuts by the Federal Reserve this year following an easing core inflation reading.

Stocks are set to extend their biggest gain since the November election with jobs and retails sales data in focus.