Global stocks saw mixed performances Tuesday, driven by Wall Street's proximity to record highs. France's CAC 40 and Germany's DAX each rose by 0.3%, while Britain's FTSE 100 fell by 0.5%. Investors are closely monitoring the upcoming euro-zone inflation data, which is set for release later in the day.
Asian markets displayed varied outcomes as well. Tokyo's Nikkei 225 surged 1.8%, while Hong Kong's Hang Seng and Shanghai Composite declined by 0.3% and 0.9%, respectively. China maintained its benchmark lending rates, having recently decreased key interest rates in a bid to support the economy. Meanwhile, Australia's S&P/ASX 200 gained 0.2% following the Reserve Bank of Australia's decision to maintain its cash rate target, prioritizing inflation control.
In the US, the S&P 500 achieved its longest winning streak since November on Monday, closing at 5,608.25. The Dow Jones added 0.6% and the Nasdaq composite soared by 1.4%. Treasury yields were stable ahead of Federal Reserve Chair Jerome Powell's awaited speech at Jackson Hole, Wyoming. The market anticipates the Fed to cut interest rates next month, marking its first such decision since the early 2022 rate hikes aimed at curbing inflation. Energy markets saw US crude decrease by 63 cents to $73.03 per barrel, while Brent crude rose by 91 cents to $76.75 per barrel. (This story was generated by Newser's AI chatbot. Source: the AP)
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