Overnight Summary
Wall Street yet again closed at record highs, fuelled by rallies in Tesla and Micron as well as firming expectations of a Federal Reserve (Fed) rate cut, while US inflation data came in hotter than forecast and jobless claims climbed to a near four-year high.
Corporate movers like Warner Bros Discovery and Centene surged, and Asian markets followed the Wall Street rally, with major indices in Japan, Korea, and Taiwan hitting fresh records too.
Dow Jones trades in record highs
The Dow Jones has surged substantially higher following a spike in jobless claims and hit a new record high at 46,137. The next upside target is the minor psychological 47,000 mark.
Good support may be seen between the 22 August and 9 September highs at 45,757-to-45,682.