Global stocks reached record highs on Wednesday as investors focused on efforts to provide more fiscal stimulus and positive news on COVID19 vaccines, while sterling inched up as British and European leaders meet for talks on a Brexit trade deal.
U.S. lawmakers continued to negotiate over additional stimulus to help offset the economic impact of the pandemic while pursuing a stopgap governmentfunding bill.
Leaders in both parties remain adamant a deal must be struck but are still working through sticking points, including aid to state and local governments and business liability protections.
The steady march of positive news on COVID19 vaccines also helped lift investor spirits.
Britain on Tuesday became the first Western nation to begin a wide vaccination campaign, and Johnson Johnson reported it could obtain latestage trial results for a singledose vaccine in January, earlier than expected.
Meanwhile, Pfizer Inc cleared another hurdle when the U.S. health regulator released documents flagging no new safety or efficacy concerns.
Momentum will be a little bit less than it has been. T here are certain questions to be answered about the logistics of the vaccines, and vaccines dont change the winter picture for the virus, but we are expecting positive returns for next year … theres a lot going for the global economy, said Seema Shah, chief global strategist at Principal Global Investors.
MSCIs gauge of stocks across the globe rose to a record 635.65, up 0.3. The…