📆 Wednesday, July 10
► European stocks edged slightly higher today following new peaks for US equities yesterday, with traders remaining optimistic about potential Federal Reserve rate cuts this year. The Euro Stoxx 600 benchmark climbed about 0.15%. Basic resources stocks declined due to falling crude oil and base metal prices. Among individual stocks, Spanish utility Enagas rose over 4% after selling a 30% stake in US pipeline firm Tallgrass Energy to Blackstone Infrastructure Partners.
► The S&P 500 set a new peak with its sixth straight daily advance, its longest winning streak since January. While markets reacted rather negatively pm Federal Reserve Chairman Jerome Powell's testimony his comments still indicated a cooling job market, which keeps hopes for rate cuts later this year. The Nasdaq 100 also reached a record high. Treasuries remained steady, with two-year yields near a three-month low. Traders are now anticipating further clues on the policy path from Powell’s additional testimony later today and upcoming US inflation and jobs data later this week. We see Wall Street little changed in pre-market trading.
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