LONDON, April 23 - Global shares rose on Tuesday, driven by a recovery on Wall Street, where investors focus on earnings reports from the U.S. megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials.
Against that backdrop, gold is heading for a week-on-week drop of 3.2%, its largest this year, while oil has backed off last week's highs. Tuesday brings a wealth of big-cap earnings, including Tesla, PepsiCo , UPS , opens new tab, Lockheed Martin , opens new tab and Halliburton , opens new tab Traders now expect the first Fed rate cut to come most likely in September and see just 40 basis points' worth of cuts this year, compared with expectations for 150 bps of cuts at the beginning of the year.
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