Global Markets Edge Higher as Dollar Stabilizes Ahead of Fed Decision

Global stocks reached a new intraday high as the U.S. dollar steadied following a sharp downturn. Despite a dip in European indices, U.S. markets climbed, led by gains in major indices. The Federal Reserve's decision on interest rates remains pivotal, amid geopolitical and economic uncertainties.

Global stock markets reached new heights, with significant gains seen across U.S. indices. The S&P 500 surpassed 7,000 for the first time, marking a critical psychological benchmark. Sentiment remains optimistic, as earnings from tech giants like Microsoft and Tesla are anticipated.

In contrast, the European STOXX 600 index experienced a downturn due to a steep 7% decline in LVMH shares, influenced by CEO Bernard Arnault's cautious outlook. Meanwhile, the dollar showed resilience after a significant drop, with global economic factors and U.S. policy uncertainties continuing to influence currency dynamics.

Commodities benefited from the dollar's weakness, with gold and oil reaching notable highs. Investors keenly await the Federal Reserve's upcoming interest rate decisions, which are expected against a backdrop of political and economic challenges involving top U.S. financial policymakers.

(With inputs from agencies.)