Thursday, July 18, 2024
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From Tokyo to New York, stock markets around the world are at record levels

From New York to London to Tokyo, if there’s one similarity between the world’s stock markets, it’s this: record highs.

Of the twenty largest stock markets in the world, fourteen recently reached record highs. The MSCI ACWI Index, which tracks developed and emerging markets, set an all-time high and reached another new high on Friday. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed the 40,000 mark for the first time ever. Meanwhile, the largest stock markets in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks.

Impending interest rate cuts, healthy economies and corporate profits are driving activity. And besides, there are plenty of potential drivers to keep the rally going, like the $6 trillion sitting in money market funds, while risks remain scarce.

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