The party went on for world stocks on Tuesday as bank stocks gained and while U.S. oil reached its highest the end of 2014.
Changes to the Bank of Japan’s bond-buying program pushed the yen higher, while the dollar gained against a basket of major currencies, recovering even more its decline last week.

At the open Wall Street’s main indexes hit record highs continuing their streak since the start of this year. MSCI’s all-country world stocks index also recorded another record high. U.S. stock investors are looking forward to Friday when the fourth-quarter earnings season begins, with concentration focused on comments regarding to the U.S. tax plan impact on corporate tax cuts.

“Across the board, we’re positive about fourth quarter and the next few quarters. But it could be a little bit noisy after we got the tax reform law passed and companies make some adjustments close to year-end,” said Tim Dreiling, regional investment director for a U.S. Bank.

The Dow Jones Industrial Average increased 115.62 points, or 0.46 percent, to 25,398.62, the S&P 500 rose 8.11 points, or 0.30 percent, to 2,755.82 and the Nasdaq Composite gained 11.77 points, or 0.16 percent, to 7,169.15.

The S&P 500 has gained everyday this year, providing more optimism regarding the outlook for the remainder of the year.

The pan-European FTSEurofirst 300 index climbed 0.44 percent and MSCI’s gauge of stocks across the globe rose 0.18 percent.

THE MORNING REPORT

Start your workday the right way with the news that matters most.

Your information is 100% secure with us and will never be shared Disclaimer & Privacy Policy

Oil prices touched their highest since December 2014, propped up by OPEC-led production cuts as well as the expectation that U.S. crude inventories have fell for the eighth week. U.S. crude gained 1.51 percent to $62.66 per barrel and Brent was last at $68.53, up 1.11 percent.

The dollar grew against a basket of major currencies including the euro, but fell against the yen after the Bank of Japan reduced its purchases of long-dated government bonds in market operations. The dollar index increased 0.26 percent, with the euro down 0.37 percent to $1.1921.

The Japanese yen gained 0.39 percent versus the dollar at 112.65 per dollar, while Sterling was last trading at $1.3526, losing 0.29 percent on the day.