Wall Street is hovering around its record highs, mirroring a subdued trend in global financial markets. The S&P 500 showed little change in early Wednesday trading, following its all-time high the previous day. The Dow Jones Industrial Average rose by 31 points, or 0.1%, while the Nasdaq composite slipped by 0.3%. Bond markets were also calm, with Treasury yields ticking slightly higher. Overseas, stock markets showed a mixed picture. Dollar Tree shares fell after reporting lower-than-expected results. Benchmark U.S. crude oil prices increased by 2.3%.
In other news, global shares experienced a mixed day in subdued trading on Wednesday, as initial optimism from Wall Street’s record rally gradually faded. France’s CAC 40 inched up nearly 0.1%, and Germany’s DAX remained largely unchanged. Britain’s FTSE 100 also showed minimal movement.
In the United States, futures indicated little change, with Dow futures around 39,471.00 and S&P 500 futures down less than 0.1%. Australia’s S&P/ASX 200 and South Korea’s Kospi both posted gains, while Japan’s Nikkei 225 lost ground.
Currency markets saw the U.S. dollar slightly stronger against the Japanese yen, while the euro edged up against the dollar. There is speculation that Japan’s central bank might be preparing to end its ultra-loose monetary policy, which includes negative interest rates.
In the U.S., recent inflation data met expectations, fueling hopes that the Federal Reserve might start cutting interest rates in June. The Fed’s main interest rate is currently at its highest level since 2001.
Oil prices rose, with benchmark U.S. crude reaching $78.78 a barrel and Brent crude at $82.17 a barrel.
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