NEW YORK/LONDON, April 23 - Global shares rose on Tuesday, driven by a recovery on Wall Street, where investors are focused on earnings reports from the U.S. megacaps, and the yen hit multi-year lows against the dollar and the euro.
The FTSE 100 , opens new tab eased back from a record high, as the STOXX 600 , opens new tab rose 1% on gains in the technology sector. Against that backdrop, spot gold was down 0.41% at $2,316.64 an ounce after shedding 2.7% the day before. "There are lots of things that could cause volatility between now and the end of the year. And so we're probably coming to a more constrained, more volatile period for markets."
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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