S&P 500 hits new record high
|Rate cuts are back on the table, a ceasefire holds in the Middle East and tariff deadlines seem not to matter, all of which helps to spur equity markets higher, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
S&P 500 pushes to new high
A week that began with such uncertainty has given way to a resurgent bull market for equities. Monday’s fears of a wider war in the Middle East have been rapidly discarded, and now that rate cuts are being discussed more freely it seems that a much more benign scenario is in place for stock markets. Growtn is back in fashion in seems, and once more it is the more value-oriented FTSE 100 that is the laggard today and over the past week.
Oil prices stabilise
Oil has had a turbulent week, but as hopes of a more positive economic outlook take hold the price has managed to push higher over the last two days. A scenario where the Fed resumes its rate-cutting programme would boost oil demand, so long as OPEC doesn’t spoil things by increasing production too quickly.
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