Global Markets Pulse: Wall Street’s Tech Stocks Drive Record S&P 500 High, While European Economy and US Macroeconomic Indicators Stay Optimistic
On Monday, Wall Street broke another record as a rally in tech stocks pushed the S&P 500 to new highs. This marked the thirtieth time this year that the index has set a new record. The increase in Wall Street also had an impact on the central stock market indices of Asia, with Japan’s Nikkei 225 and South Korea’s Kospi index both up by 0.8 percent, while Mainland China’s CSI 300 index was up by 0.1 percent. However, Hong Kong’s Hang Seng was down by 0.3 percent.
Wall Street’s tech stocks were a major factor in the rise of Asian semiconductor manufacturers, with Korean SK Hynix hitting a record high on Tuesday. The Central Bank of Australia also kept its key interest rate unchanged on Monday, marking the fifth consecutive meeting without a rate change in 12 years.
This week, interest rate decisions are expected in Europe as the central banks of England and Norway meet on Thursday. The European Central Bank’s outlook will be influenced by the final consumer price index for the euro area in May, which will be released later on Tuesday. In the United States, several macroeconomic indicators are expected, including retail sales and industrial production in May.
Futures for stock market indices predict mostly upward openings for European stock exchanges, with the S&P 500 and Nasdaq 100 futures slightly in the red after a strong day of growth. Overall, the global markets are showing signs of optimism and potential growth.
