Jun 28, 05:45 AM

S&P 500 and Nasdaq Set Records as Global Equity Rally Widens

U.S. equities ended the week on a strong note, with both the S&P 500 and the Nasdaq Composite finishing at record highs on Friday—their first all-time closes since February. Investors looked past lingering tariff threats from President Donald Trump and unrest in the Middle East, instead focusing on renewed trade negotiations and growing expectations that the Federal Reserve will trim interest rates later this year. The upbeat mood spilled over to other major markets. European benchmarks closed higher, and in Asia the rally was led by India, where the Nifty 50 held above 25,500 and the Nifty Bank notched a fresh record. For the week, the Sensex added 2.0% to 84,058.90, while the Nifty 50 rose 2.09% to 25,637.80. Lower crude prices following a ceasefire in the Middle East, softer rhetoric on U.S.–China tariffs and hopes of easier global monetary policy underpinned risk appetite. Foreign institutional investors bought a net Rs 4,423 crore of Indian equities during the week, and domestic funds extended a ten-week buying streak with Rs 12,390 crore of purchases. Trading volumes have increasingly shifted to lower-priced shares, helping small-cap stocks generate double-digit returns and broadening the market’s advance.