An index of global stocks climbed to a record, tracking gains on Wall Street, as data showing that the US economy expanded at its fastest pace in two years bolstered the outlook for corporate earnings.
MSCI’s All Country World Index advanced for a fifth day on Wednesday, taking gains this year to 21%. A gauge of Asian shares rose 0.2%, led by technology stocks after the S&P 500 Index closed at an all-time high Tuesday.
Trading volumes remained relatively low ahead of the Christmas holiday. Commodity gains were even larger, with gold climbing above $4,500 an ounce for the first time before paring its rally.
Bullion’s haven appeal has been amplified recently by the US blockade of oil tankers linked to Venezuela.
Platinum and silver both rose to records, while copper topped $12,000 a ton for the first time. Risk appetite has been boosted toward year-end even as stronger-than-expected US growth data scaled back bets on near-term Federal Reserve interest-rate cuts.
After earlier concerns over high valuations for tech stocks amid the artificial intelligence boom, traders are regaining confidence that companies will deliver solid earnings growth in 2026.
