Global equities reached a new all-time high for the first time since February, with the MSCI All-Country World Index rising as much as 0.3% to 888.24 points, surpassing its previous record of 887.72. The S&P 500 index also surpassed the 6,000 mark for the first time since February, while the ACWI hit an all-time high. The rally has been driven by resilience in the US economy, strong corporate earnings in the US and Europe, and gains in the technology sector, led by Nvidia, which became the world's most valuable company after an optimistic outlook. The Bloomberg Magnificent Seven Index, tracking major US tech firms, has risen 30% since April, adding over $3.5 trillion in market capitalization. Despite ongoing trade tensions between the United States and China and the recent doubling of US tariffs on steel and aluminum imports, investors have focused on economic fundamentals. President Donald Trump has adopted a more moderate tone on tariffs. Options market activity has supported the upside in equities. European stocks have also contributed to the rally, with the Stoxx Europe 600 up 0.7% and outperforming the S&P 500 by 18 percentage points this year. The German DAX rose 1%, and the French CAC 40 and UK FTSE 100 posted gains. Fiscal reforms in Germany and attractive valuations have supported European markets. Recent US labor market data has reinforced optimism, with investors awaiting further confirmation from upcoming jobs reports.
#ES_F Off the open gapped lower but the gap was quickly filled and we re-took settlement @5948. Finding sellers at the ON dev POC an FS VWAP. If this was high conviction continuation lower we would not have traded back up so easily. Could be wrong but as long
Maybe I’ll sell in May next year (I won’t) https://t.co/qSQglpVWXz
all time highs in June