All eyes on wall street following Powell`s comments

Global markets are digesting balanced comments from U.S. Federal Reserve Chair Jerome Powell in which he said the central bank will not wait until inflation hits 2% to cut interest rates. On Monday Dow Jones hits all-time high, US stock futures rise, Hong Kong, China markets decline; stocks in Japan trade higher. European stocks are expected to open in mixed territory Tuesday as investors assess the economic and political outlook in the region and beyond.

Futures linked to the 30-stock average rose by 65 points, or about 0.16%. S&P 500 futures and Nasdaq 100 futures respectively climbed 0.19% and 0.31%.

The yield on the US 10-year Treasury note fell to around 4.2% on Tuesday, sliding back toward four-month lows whilst the dollar hung around five-week lows.

Earlier in the day, the Dow advanced 0.53% to a record close. The 30-stock index also hit an all-time high during the session. The S&P 500 added 0.28%, while the Nasdaq Composite gained 0.4%.

Federal Reserve Chair Jerome Powell said second-quarter economic data has provided policymakers greater confidence that inflation is heading down to the central bank’s 2% goal, possibly paving the way for near-term interest-rate cuts.

European equity markets were headed for a lower open on Tuesday as investors prepared for the latest European Central Bank policy decision later in the week.

Elon Musk has reportedly said he is planning to pledge about $45 million a month to a newly formed super PAC backing former President Donald Trump.

Asian shares dropped, shrugging off gains on Wall Street, as bets on a second Donald Trump term following his running mate announcement trigger further trade and geopolitical concerns

China withdrew cash from its banking system for a fifth consecutive month amid caution toward monetary easing as currency depreciation pressures mount.

UK economists are sceptical about the ability of Keir Starmer’s Labour government to turbo-charge growth, anticipating the slow expansion that blighted much of the past decade will continue, a survey showed.

Energy Absolute Pcl shares plunged by the 30% daily limit after the founder and chief executive quit over a fraud probe and its credit rating was slashed to junk.

Rest, one of Australia’s largest pension funds, has invested A$400 million ($270 million) in Metrics Credit Partners’ real estate private credit fund.

Oil steadied after a two-day decline in quiet summer trading, with the outlook for the US dollar and monetary policy in focus.

Nvidia leads the S&P 500 and Nasdaq Composite higher on Monday

Meta Platforms was the biggest laggard for both indexes.

UnitedHealth was the most positive stock within the Dow Jones Industrial Average an

.JPMorgan marked the 30-stock index’s biggest laggard.

Gold edged higher to just below a record as traders added to bets the US Federal Reserve will cut interest rates three times this year.

Bank of America, Morgan Stanley, UnitedHealth and Charles Schwab are set to report earnings Tuesday before the bell.

Traders will watch for the latest economic data, which includes June’s retail sales, export and import price indexes and May’s business inventories.

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