Morning bid: Stocks buoyant as Sweden cuts, oil skids

Wall Street looks to have brushed off the latest hawkish Federal Reserve noises and Disney's outsize swoon, with European bourses stalking new records as Sweden becomes the latest G10 central bank to cut interest rates and oil prices plunged.

Helped by brisk demand for the hefty $58 billion sale of three-year notes on Tuesday and another sharp fall in crude oil prices, Treasury yields were relatively calm going into a $42 billion 10-year auction later on Wednesday. And European bourses looked set for record highs as Sweden cut interest rates on Wednesday and underlined the divergence between European central banks policymaking and the Fed's.

Britain's benchmark FTSE 100 hit a new record high on Tuesday, 10-year gilt yields fell to their lowest in almost four weeks and the pound slipped. Back on Wall Street, Tuesday's gains and steady overnight futures survived another retreat in Tesla and Walt Disney's 10% slump. Disney fell as a surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office.

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