2 hours ago
By Amanda Cooper
LONDON, June 30 (Reuters) - Global stocks were headed for their best second-quarter performance in six years on Tuesday, while a resurgent dollar pushed the yen to a four-decade low and was headed for a fourth straight quarterly rise.
Within the past three months, the Strait of Hormuz has re-opened gradually and haphazardly as hostilities between the U.S. and Iran receded into a fragile ceasefire, knocking 20% off the price of oil. In addition, a dramatic shift in expectations for U.S. interest rates has occurred, against a backdrop of a seemingly unstoppable boom in artificial intelligence stocks.
The MSCI All-World index has risen almost 14% to record highs in the last three months, marking its best second-quarter performance since 2020.
Most of the gains have been powered by a scorching rally in anything AI-related, particularly in Asian markets, where indexes in ******* an, South Korea and Taiwan have logged double-digit percentage gains. The S&P 500 is also up 14% and the Nasdaq, which welcomed $2 trillion ******* eX to its ranks in June, has gained 20%.
LONDON, June 30 (Reuters) - Global stocks were headed for their best second-quarter performance in six years on Tuesday, while a resurgent dollar pushed the yen to a four-decade low and was headed for a fourth straight quarterly rise.
Within the past three months, the Strait of Hormuz has re-opened gradually and haphazardly as hostilities between the U.S. and Iran receded into a fragile ceasefire, knocking 20% off the price of oil. In addition, a dramatic shift in expectations for U.S. interest rates has occurred, against a backdrop of a seemingly unstoppable boom in artificial intelligence stocks.
The MSCI All-World index has risen almost 14% to record highs in the last three months, marking its best second-quarter performance since 2020.
Most of the gains have been powered by a scorching rally in anything AI-related, particularly in Asian markets, where indexes in ******* an, South Korea and Taiwan have logged double-digit percentage gains. The S&P 500 is also up 14% and the Nasdaq, which welcomed $2 trillion ******* eX to its ranks in June, has gained 20%.
