NEW YORK, May 19. /TASS/. The world's largest stock markets are showing record figures, Bloomberg reported on Saturday.
As the agency says, of the world’s 20 largest stock markets, 14 have hit all-time highs recently.
"In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever," the agency says.
In addition to the United States, stock exchanges in Europe, Canada, Brazil, India, Japan and Australia have surpassed or are close to their historical highs. Looming interest rate cuts, healthy economies and corporate earnings are driving the activity, Bloomberg says.
"From a macro perspective, there are no red signals," said Salman Ahmed, global head of macro and strategic asset allocation at Fidelity International, who’s overweight global equities in his multi-asset portfolios. "The cyclical picture is staying strong, and the rally is broadening out," he added.
Bloomberg does not indicate a single reason for the rise of all stock markets. Thus, in the United States, the main engine of economic growth is companies related to artificial intelligence technologies, in particular, microchip manufacturer Nvidia accounts for a quarter of the growth of the entire S&P 500 index. In Europe, corporate income indicators turned out to be higher than expected, and the rise in British and Canadian stock indices was facilitated by growth prices for commodity resources, Japanese exchanges are helped by the influx of new investments, and the growth of the Indian stock market is facilitated by investments from the state.
On Friday, the Moscow Exchange index exceeded 3,500 points for the first time since February 18, 2022.