Global equity markets surge as S&P and Nasdaq hit all-time highs

The bull stampede continued in earnest this week as global equity markets surged higher, led by the US. The S&P logged another 1.2% gain, whilst the technology laden Nasdaq added 1.5%, to record new all-time highs. As it stands, 26% of S&P 500 index companies have registered new all-time highs so far this year as elevated earnings expectations have been matched, particularly by the technology and e-commerce sectors.

For those with access to a DeLorean complete with flux capacitor, $5,000 invested in chipmaker Nvidia in 2000 would now be worth a cool $4.7m.

Prevailing market conditions are currently being viewed so favourably by investors that renewed stresses in the US regional banking sector have gone largely unnoticed. The share price collapse of New York Community Bank followed a company statement citing ‘material weakness in internal controls’ including risk oversight and risk assessment. To recap, NYCB is the institution that acquired SVB (Silicon Valley Bank) in the aftermath of the regional bank meltdown no more than twelve months ago. It seems lightning can strike twice.

TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.

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