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Stock market today: Global shares mostly rise on hopes for US rate cuts

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Global shares are mostly higher after Tesla zoomed upward, helping drive the U.S. stock market to more records.

A currency trader walks by the screen showing the Korea Composite Stock Price Index , right, and the foreign exchange rates at a foreign exchange dealing room in Seoul, South Korea, Wednesday, July 3, 2024. Asian shares were mostly higher on Wednesday after Tesla gained more than 10%, helping to drive U.S. benchmarks to more records. – Global shares were mostly higher on Wednesday after comments by Federal Reserve chief Jerome Powell raised hopes for interest rate cuts.

Early Wednesday, France's CAC 40 rose nearly 1.0% in early trading to 7,612.99. Germany's DAX gained 0.6% to 18,276.99. Britain's FTSE 100 added 0.6% to 8,169.20. The futures for the Dow Jones Industrial Average and S&P 500 edged 0.1% higher. The U.S. dollar rose to 161.83 Japanese yen on Wednesday from 161.44 yen late Tuesday. The euro cost $1.0761, up from $1.0743.

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