Global Stock Surge: Central Bank Decisions Propel Equities
Global stocks rose this week, fueled by central bank decisions to cut interest rates. Wall Street indices reached record highs, while European and global markets also showed gains. Investors anticipate further stock boosts. Meanwhile, oil prices fell due to demand concerns despite rate cut benefits, and gold prices saw consistent growth.
Global stock markets saw an upswing on Friday, continuing a positive trend for the week. This rise was largely driven by rate cuts from key central banks, including the U.S. Federal Reserve, Norway, and Canada, helping Wall Street achieve record highs. The Dow Jones Industrial Average, S&P 500, and Nasdaq all experienced gains.
European equities also rose slightly, while the global MSCI stock index hovered near its previous record high. Despite a slight fall in Japan's Nikkei due to the Bank of Japan's asset selling, the overall market sentiment remains optimistic with an outlook favoring equities, according to portfolio experts from Amundi.
The bond market, however, highlighted concerns as long-term yields increased on government debt worries. Despite mixed responses regarding currency strength, with the U.S. dollar and euro showing varying movements, commodities such as oil and gold presented a contrasting narrative. While oil prices dipped due to demand concerns, gold continued its upward trend.
(With inputs from agencies.)
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