Shares on Wall Street scaled record highs on Thursday, lifting stock markets around the world, while U.S. Treasuries yields retreated as investors processed a second Donald Trump presidency and awaited a Federal Reserve policy decision.
The Fed is expected to cut interest rates by 25 basis points at the end of its policy meeting on Thursday, a decision that may seem a footnote given the uncertain economic terrain it may soon navigate under a second Trump administration.
The S&P 500 rose 0.5%, the Dow Jones Industrial Average added 0.12%, and the Nasdaq Composite jumped 1.1%. All three indices hit new all-time highs for a second consecutive day. The MSCI index for world stocks climbed 0.8%, also to a record high.
Europe's broad STOXX 600 index was last up 0.8% after Asian shares gained earlier in the day, with even onshore Chinese blue chips rising 3% as investor optimism over potential stimulus outweighed concerns about worsening trade tensions.
Source: Reuters
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