Global stock markets are exuberant
A trader works at the New York Stock Exchange. Photo: Xinhua/Wang Ying via Getty Images.
The Dow joined the S&P 500 and the Nasdaq in touching an all-time high on Monday, as U.S. equities continued to roar higher. All three indexes set record highs.
By the numbers: The U.S. has been outperforming other global markets for much of the year, but international bourses are starting to pick up the pace.
- MSCI’s All Country World Index hit its highest since February 2018 on Monday and is just a hair below its own record high, while MSCI's world index excluding the U.S. surpassed its previous year-to-date top.
- MSCI's Asia Pacific Index was led higher by gains of more than 1% in Hong Kong, Taiwan, South Korea and Thailand, with the Asia Pacific index gaining for the seventh time in eight sessions.
- European stocks also jumped, with the pan-European Stoxx 600 rising for the ninth time in 11 sessions. Germany's benchmark Dax 30 index rose 1.35%, despite data showing new orders at German factories fell for the 13th straight month in October, and employment levels dropped at the fastest rate since January 2010.