The MSCI All Country World Index, the broadest measure of global equities, rose 0.4% to an all-time high closing level. Europe’s benchmark Stoxx 600 gained for a sixth straight session to the highest intraday level since the outbreak of the Iran war. Trading volumes were light, with a number of markets including the UK, Norway and Denmark closed for holidays.
(May 25): Global stocks rose to record highs on Monday as crude oil fell after officials signaled the US was nearing a deal with Iran to reopen the Strait of Hormuz and restore oil flows. The dollar weakened.
Futures contracts on the S&P 500 climbed 0.9%, while those on the Nasdaq 100 were up 1.4%. US cash markets are shut on Monday for the Memorial Day holiday. The dollar retreated against all of its Group-of-10 peers.
