European shares advanced on Wednesday, with markets in Germany, France, and the UK showing gains. Investors are eagerly awaiting comments from Federal Reserve Chair Jerome Powell and upcoming earnings reports.
In Asia, the Nikkei 225 in Japan closed at another record high, continuing its impressive run over the past year. Technology-related shares and export-oriented companies have been driving gains in the Japanese market.
However, not all Asian markets saw gains, with Hong Kong and Shanghai experiencing declines. China reported a decrease in its consumer price index, driven by lower prices for non-pork foods.
In Australia, the S&P/ASX 200 was slightly lower, while the Kospi in South Korea remained steady. Taiwan’s Taiex gained, while India’s Sensex lost ground.
On Wall Street, the S&P 500 and Nasdaq composite reached all-time highs for the second time this week, while the Dow fell slightly. The Fed remains cautious about interest rate cuts, with traders betting on a 70% chance of a rate cut in September.
Earnings reports from Delta Air Lines and major banks like JPMorgan, Citigroup, and Wells Fargo are expected to provide insight into consumer debt levels and potential delinquencies.
In commodities trading, US benchmark crude oil and Brent crude both saw slight declines. The US dollar rose against the Japanese yen and the euro.
Overall, global markets are showing a mix of gains and losses as investors await key economic data and earnings reports to guide their next moves.
