· Stocks reached record highs Wednesday after testimony from Federal Reserve Chair Jerome Powell bolstered the case for easier monetary policy in the U.S.



The S&P 500 briefly broke above 3,000 for the first time, while the Nasdaq Composite and Dow Jones Industrial Average also reached all-time highs.



The major stock index pared gains as Powell answered questions from lawmakers, however. While answering questions from lawmakers, Powell reiterated that current trade conditions and muted economic activity have dampened the U.S. economy’s outlook. He noted, however, that the U.S. economy remains on solid ground.



The S&P 500 closed back below 3,000, up 0.5% at 2,993.07. The Dow, meanwhile, climbed 76.71 points, or 0.3% at 26,860.20 after rallying nearly 200 points. The Nasdaq ended the day off its session high, but managed a record close at 8,202.53 as Amazon rose 1.5% to break above $2,000 per share.

· European stocks edged lower on Wednesday afternoon after U.S. Federal Reserve Chairman Jerome Powell hinted at imminent interest rate cuts in a testimony to Congress.

The pan-European Stoxx 600 fell almost 0.2% during afternoon trade, with the vast majority of sectors in negative territory.

· Stocks in Asia edged up on Thursday after U.S. Federal Reserve Chairman Jerome Powell signaled overnight that the U.S. central bank could be cutting interest rates soon.

The Nikkei 225 rose 0.11% in early trade, while the Topix gained 0.2%. Shares of game maker Nintendo jumped about 4% a day after the company announced a cheaper version of its Switch video game console.



In South Korea, the Kospi added 1.02%, while Australia’s S&P/ASX 200 traded largely flat.



Reference: CNBC