European shares opened higher on Thursday following a mixed trading session in Asia and another record close for the S&P 500. Germany's DAX rose by 0.1% to 18,500.63, while in Paris, the CAC 40 gained 0.4% to 8,240.07. London's FTSE 100 was up 0.3% at 7,957.26. The future for the S&P 500 was 0.1% lower, and the Dow Jones Industrial Average was relatively unchanged.
The dollar remained strong against the Japanese yen and Chinese yuan, causing concerns for regulators in Tokyo and Beijing. The dollar rose to 151.45 yen from 151.30 yen, while the euro slipped to $1.0803 from $1.0828. Japanese officials expressed a desire for stability in exchange rates as the yen showed vulnerability.
In Asian markets, the Nikkei 225 in Tokyo lost 1.5% to 40,168.07, and the Kospi in Seoul fell by 0.3% to 2,745.82. Chinese markets rebounded, with Hong Kong's Hang Seng index gaining 0.9% to 16,541.42, and the Shanghai Composite advancing 0.6% to 3,010.66. Australia's S&P/ASX 200 jumped 1% to 7,896.90, while India's Sensex added 1.6%.
On Wednesday, the S&P 500 reached a record high of 5,248.49, with the Dow Jones Industrial Average surging 1.2% to 39,760.08. Merck saw a 5% increase after federal regulators approved its treatment for pulmonary arterial hypertension. Trump Media & Technology Group shares rose by 14.2%, while GameStop tumbled 15% despite delivering a profit for the latest quarter.
Markets are anticipating the U.S. government's release of the latest monthly update on consumer spending, including the preferred inflation measure by the Federal Reserve. The S&P 500 is on track for a fifth straight winning month, with expectations of the Federal Reserve beginning to lower interest rates this year due to cooling inflation.
Stocks generally perform well when more than half of the world's central banks are easing interest rates. U.S. benchmark crude oil gained 24 cents to $81.59 per barrel, while Brent crude added 15 cents to $85.56 per barrel in electronic trading on the New York Mercantile Exchange.
