Global Stocks Reach Record High as Powell Talks Rate Cuts
- MSCI All Country Index jumps more than 9% since August low
- US interest-rate outlook, economic resilience lifts equities
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Global equities reached a new all-time high after recouping losses from the turmoil earlier this month, as investors gain confidence from coming US interest-rate cuts and the lack of recession signals.
The MSCI AC World Index rose as much as 1.2% on Friday to surpass its previous high on July 12, after Federal Reserve Chair Jerome Powell said the “time has come” for the central bank to cut its key policy rate.