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

Market Overview - Global shares increased as U.S. stocks reached record highs, with Wall Street anticipating an update on the job market that may lead to interest rate cuts favored by investors [2] - In early European trading, Germany's DAX index rose 0.2% to 23,815.68, Britain's FTSE 100 increased 0.3% to 9,246.59, and Paris's CAC 40 edged up 0.1% to 7,707.13 [2] - The S&P 500 futures rose 0.3% and Dow Jones Industrial Average futures were up 0.1% [2] Economic Indicators - Japan's labor cash earnings rose 4.1% year-on-year in July, up from 3.1% in June, indicating solid wage growth [2] - Household spending in Japan climbed 1.4% in July compared to the same month last year, marking growth for the third consecutive month [2] - A report indicated that U.S. employers, excluding government, nearly halved their hiring in August compared to the previous month, while more workers applied for unemployment benefits, suggesting rising layoffs [2] Federal Reserve Outlook - The slowdown in the job market may prompt the Federal Reserve to cut its main interest rate for the first time this year, which could stimulate the economy and job market [2] - The Fed has maintained its main interest rate due to concerns about inflation exacerbated by tariffs rather than the job market [2] Commodity Prices - U.S. crude oil prices decreased by 38 cents to $63.10 per barrel, while Brent crude fell by 32 cents to $66.67 per barrel [4] - The U.S. dollar weakened against the Japanese yen, dropping to 148.14 from 148.40, while the euro rose to $1.1682 from $1.1654 [4]