US stock markets are inching closer to all-time highs as the prospect of further interest rate cuts and the artificial intelligence boom continue to drive investor flows.
The tech-heavy Nasdaq and the S&P 500 are each up roughly 24 per cent since the start of the year, with the latter hitting a record high this week, despite a toxic cocktail of global conflict, flagging economic growth in Europe and China, and recent oil price volatility.
The Dow Jones has added just shy of 15 per cent this year, having closed at a record high in four of the last five trading sessions.
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