Nikkei hits record high, investors await Powell's testimony on rate cuts

From Investing.com: 2024-07-08 23:56:33

Japan’s Nikkei index reaches record high, while investors await Powell’s comments on rate cuts. European futures lower, while U.S. stock futures rise. Asian shares mostly flat, with Taiwanese shares hitting record before profit-taking. Markets expect 80% chance of rate cut in September. U.S. consumer price report expected to show slowdown in inflation. Markets fully price in two rate cuts for remainder of 2024. Euro holds steady, dollar near four-week lows against basket of currencies. Yen and yuan see some respite. Treasuries and gold steady, oil prices fall after Texas hurricane causes less damage than expected.



Read more at Investing.com: Nikkei hits record high, investors await Fed chair’s testimony By Reuters