U.S. stock index futures all rose, gold approached the $3,700 mark, and the dollar continued to decline.
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Global market risk appetite continues to rise. As US stocks reach all-time highs, investors are focusing on retail data to be released tonight and preparing for the widely anticipated first rate cut by the Federal Reserve this year.
On Tuesday, Asian stocks hit record highs, European stocks opened mixed, US stock index futures collectively rose, gold approached the $3,700 mark, extending its record-breaking rally, and the US dollar fell to the lowest level since July against all major currencies.
August retail sales data is expected to grow by 0.2%, providing a key reference for the Federal Reserve's decision. The market generally expects a 25-basis-point rate cut on Wednesday, with some investors not ruling out the possibility of 50 basis points. As signs of a cooling labor market emerge, policymakers may signal a more dovish stance.
Specifically, US stock futures edged higher after the S&P 500 index broke through the 6,600-point mark on Monday.
The MSCI Asia Stock Index hit a record high and is set for its best winning streak in nearly five years.
The European benchmark index fell 0.3%, led lower by insurance and telecom sectors.
US Treasury prices rose, with the 10-year yield down 1 basis point to 4.03%. Investors continue to bet that the Fed is about to start a rate-cutting cycle, boosting demand for fixed-income assets.
Spot gold rose $7 in the short term and is now trading at $3,694 per ounce, approaching the $3,700 mark.
The US dollar fell to its lowest level since July against all major currencies.
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