Global markets hit further record highs on Tuesday, as prices of crude oil, copper and other commodities rose following the announcement of a wide-ranging economic stimulus package by the People’s Bank of China.
S&P 500 futures: 5,787.25 ⬆️ up 0.18%
S&P 500: 5,734.46 ⬆️ Up 0.3%
Nasdaq Composite Index: 18,076.10 ⬆️ Up 0.6%
Dow Jones Industrial Average: 42,221.58 ⬆️ Up 0.2%
FTSE 100: 8,282.76 ⬆️ up 0.28%
STOXX Europe 600: 519.07 ⬆️ Up 0.81%
Nikkei Stock Average: 37,940.59 ⬆️ Up 0.57%
SSE Composite Index: 2,862.41 ⬆️ Up 4.15%
Bitcoin: $64,377.70 ⬆️ Up 1.58%
China: Economic stimulus measures revitalize global markets
Chinese stocks soared, with the Shanghai Composite Index rising more than 4 percent, after the People’s Bank of China announced a series of stimulus measures to support the slowing economy.
Europe: Riding the China Wave
European markets also rose, with the STOXX Europe 600 Index closing at 519.07, up 0.81%. Positive sentiment from China’s stimulus package spread to European trading, helping lift all major indexes.
Japan: Moderate rise on China news
Japan’s Nikkei stock average rose 0.57% to close at 37,940.59 as investors welcomed China’s efforts to stabilise its economy.
S&P 500, Dow, Futures: New Highs and Continued Optimism
The S&P 500 continued its gains on Tuesday, closing at a record high of 5,734.46, up 0.3%. The Dow Jones Industrial Average also rose 0.2% to a record high of 42,221.58. Both indexes have been boosted by optimism over the Federal Reserve’s recent interest rate cuts and strong corporate earnings. Tesla jumped 4.9% on Monday, boosted by optimism about upcoming earnings, helping to power the broader market rally.
S&P 500 futures still rising
S&P 500 futures maintained their upward momentum on Tuesday, rising 0.18% to 5,787.25, continuing to rise on the news from China.
This story originally appeared on Fortune.com.