Global markets surge as Wall Street sets another record, ahead of hopes for cuts to U.S. interest rates

"World shares rose Friday after U.S. stocks climbed to a record as Wall Street made its final moves ahead of an update on the American job market that could clear the way for cuts to interest rates that investors love.In early European trading, Germany's DAX index added 0.2% to 23,815.68, while Britain's FTSE 100 rose 0.3% to 9,246.59. In Paris, the CAC 40 edged up 0.1% to 7,707.13.The future for S&P 500 rose 0.3% while that for the Dow Jones Industrial Average was up 0.1%."

"In Tokyo, the Nikkei 225 added over 1% to 43,018.75 after data released Friday showed Japan's labor cash earnings rose 4.1% year-on-year in July, up from 3.1% in June. Another report showed household spending climbed 1.4% in July from the same month a year ago, marking growth for the third month in a row.President Donald Trump also signed an executive order Thursday implementing the U.S. trade deal with Japan negotiated in July, with lower tariffs on Japanese car imports."

"On Wall Street on Thursday, the S&P 500 added 0.8% to top the all-time high it set last week. The Dow Jones Industrial Average rose 350 points, or 0.8%, and the Nasdaq composite gained 1%. Stocks got some lift from easing pressure from the bond market, where Treasury yields fell following the latest reports on the U.S. job market to come in worse than economists expected."

Global equity markets climbed as U.S. stocks reached record levels and investors positioned ahead of U.S. jobs data that could enable interest-rate cuts. European indices nudged higher, with Germany’s DAX, Britain’s FTSE 100 and France’s CAC 40 advancing modestly, while S&P 500 and Dow futures rose. Tokyo’s Nikkei jumped after stronger labor cash earnings and household spending, and the U.S.-Japan trade deal lowered tariffs on Japanese car imports. Chinese markets rebounded, lifting Hong Kong and Shanghai, while other Asian benchmarks were mixed. Wall Street gains were supported by falling Treasury yields after weaker-than-expected U.S. employment reports.

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