NEW YORK, Aug 13 — Global stock markets hit new record highs today, capping another bumper week as investors seized on a dip in US inflation and more forecast-beating corporate earnings.
“We see the data as consistent with the Federal Reserve’s view that price pressures will start to fade and do not justify an early withdrawal of monetary stimulus. The market appears to share this view,” said Mark Haefele, chief investment officer at UBS Global Wealth Management. The pan-European STOXX 600 index rose 0.12 per cent – on Thursday it equalled its longest ever longest winning streak. Friday would see the index extending gains for a record 10th consecutive session.“We feel a bit more cautious headed into autumn because of uncertainty on the health front, the Chinese regulatory front and the monetary policy front,” said Paul O’Connor, head of multi-asset at Janus Henderson.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.56 per cent, and was 0.8 per cent lower for the week.