Business
Global stocks hold near record, silver at all-time high
Equities in Australia rose at the open while contracts in Japan pointed to modest declines after measures of Asian and global shares capped their best week in a month on Friday. US futures were steady after the S&P 500 finished near an all-time high. Nvidia Corp. climbed as analysts viewed a licensing deal with artificial intelligence startup Groq positively.
Silver climbed to a record in early Asia trading on Monday, pushing beyond $80 an ounce for the first time. Gold also edged higher on Monday as precious metals extended a historic end-of-year rally aided by escalating geopolitical tensions, US dollar weakness and thin market liquidity.
The MSCI All Country World Index — one of the broadest measures of the equity market — climbed 1.4% last week to finish at a new all-time high as a much-expected year-end rally took hold. The gauge has risen nearly 22% in 2025, headed for a third straight annual gain and the biggest since 2019.
Trends in AI, the key driver of this year’s rally, as well as the path of the Federal Reserve’s interest rates are seen by investors as two of the most crucial factors that will determine how global stocks perform in 2026.
“The focus this week will be on the release of the FOMC minutes” from the Fed’s December meeting, Tony Sycamore, market analyst at IG Australia, wrote in a Dec. 28 note. “Markets will scour the minutes for deeper insights into the committee debates on the balance of risks and the timing of future easing.”
In Asia, Chinese markets will be in focus after the nation pledged to broaden its fiscal spending base in 2026, signaling sustained government support to drive growth in a challenging external environment.Data over the weekend showed China’s industrial profits fell for a second month in November, adding to signs that weakening domestic demand and persistent deflation are weighing on corporate earnings.
Geopolitics is also in focus at the start of a new week. Donald Trump said he made “a lot of progress” in talks with Ukrainian President Volodymyr Zelenskiy as the US president pushes for a peace deal to end Russia’s invasion.
Action in bonds was muted on Friday, with Treasuries set for a monthly loss, yet on pace for their best year since 2020 after three Fed rate cuts. The dollar churned at the end of its worst week since June.
