Global stocks trade at record highs on vaccine hopes and chances of fresh US stimulus

Global stocks trade at record highs on vaccine hopes and chances of fresh US stimulus

Global stocks were trading at record highs on Tuesday, thanks to optimism over the coronavirus vaccine rollout and the likelihood of another around of US stimulus.

Futures on the Dow Jones, S&P 500, and Nasdaq rose between 0.4% and 0.6%, pointing to a higher start later in the day, when US markets reopen after Monday's public holiday.

The MSCI World Index, which includes a range of equities in 23 developed market countries, marked its longest winning streak since January 2018 and hit record highs. 

"After Monday's President's Day holiday, the Dow Jones is back in the saddle this Tuesday - and it's going record-chasing," said Connor Campbell, a financial analyst at SpreadEx. "Now that Donald Trump's second impeachment is dealt with, Congress can firmly focus on the stimulus package, which is potentially on track to be in place by mid-March."

Speaker Nancy Pelosi hopes to get the stimulus legislation approved in Congress by the end of February, in time to offset the March 14th deadline when some unemployment benefits will expire.

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In Europe, the