Global equity markets rose on Monday, with US stocks hitting a new all-time high, after President Donald Trump belatedly signed a bill to inject $900bn of stimulus into the world’s largest economy.
Wall Street’s S&P 500 index ended the day up 0.9 per cent, surpassing a previous peak it hit earlier in December. The Nasdaq Composite advanced 0.7 per cent.
“Usually markets are solid going into the new year,” said Quincy Krosby, chief market strategist at Prudential Financial. But data showed that “going back to 1920, the first quarter of new [US] administrations can be dicey for markets”, and further uncertainty came from the Georgia run-off election for the US Senate on January 5, which was “too close to call”, Ms Krosby added.
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