Global benchmarks showed mostly positive movements on Thursday following a surge in U.S. stocks to record highs, driven by signals from the Federal Reserve indicating potential interest rate cuts later this year.
In Europe, France's CAC 40 rose by 0.5% to 8,199.57, Germany's DAX edged up 0.8% to 18,159.77, and Britain's FTSE 100 surged nearly 1.2% to 7,829.19. U.S. shares were also poised for gains, with Dow futures up 0.4% and S&P 500 futures rising 0.4%.
Japan's Nikkei 225 jumped 2.0% to a record high of 40,815.66 after reporting an 8% growth in exports in February, marking the third consecutive month of increase. Notably, shipments of cars and electrical machinery contributed to trimming the trade deficit significantly.
Meanwhile, Hong Kong's benchmark surged 1.9%, while the Shanghai Composite saw a slight decline after the Chinese government announced new measures to support the economy. In Australia, Sydney's S&P/ASX 200 added 1.1%, and South Korea's Kospi gained 2.4%.
On Wednesday, the S&P 500 reached an all-time high of 5,224.62, with the Dow industrials surging 1% and the Nasdaq composite rising 1.3%. The Federal Reserve's survey of policymakers revealed expectations for three interest rate cuts in 2024, aiming to address inflation concerns and provide economic relief.
Fed Chair Jerome Powell emphasized the gradual decline in inflation towards the target of 2%, despite recent economic reports. In the energy market, benchmark U.S. crude rose to $81.67 a barrel, while Brent crude reached $86.36 a barrel. The U.S. dollar strengthened against the Japanese yen and the euro.
