In Asian Equity Markets stocks tracked solid Wall Street performance on Wednesday as strong overnight earnings for U.S. retail giants pointed to further scope for the Federal Reserve to tackle inflation with rate hikes. Japan’s Nikkei rose 0.81 percent to 29,101.33, breaking through the 29,000 barrier for the first time since Jan. 6. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.02 percent. Hong Kong’s Hang Seng index rose 0.2 percent, while Chinese blue chips were down 0.3 percent. Australia’s AXJO index fell 0.14 percent.

In Currency Markets the Australian and New Zealand dollars were volatile in Asia on Wednesday, before ending up back near where they started, providing some excitement ahead of the release of minutes of the U.S. Federal Reserve’s latest meeting later in the day. The dollar index was a fraction lower at 106.3, having ended on Tuesday largely unchanged. The euro was steady at $1.0180 after squeezing out small gains overnight, and sterling was last fetching $1.21225, up 0.2 percent ahead of inflation data that is expected to be red hot. The Japanese yen was at 134.1, little changed in Asia trade.

In US Equity Markets the Dow and S&P 500 rose on Tuesday as stronger-than-expected results and outlooks from Walmart and Home Depot bolstered views on the health of consumers, while technology shares declined and weighed on the Nasdaq. The Dow rose 0.71 percent, to 34,152.01, the S&P 500 gained 0.19 percent, to 4,305.2 and the Nasdaq Composite fell 0.19 percent, to 13,102.55. Walmart Inc shares jumped 5.1 percent after the retailer forecast a smaller decline in full-year profit than previously projected, while Home Depot Inc gained 4.1 percent after it surpassed estimates for quarterly sales.

In Commodities Markets oil prices fell about 3 percent on Tuesday to their lowest since before Russia’s invasion of Ukraine as economic data spurred concerns about a potential global recession, while the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports. Brent crude futures fell 2.9 percent, to settle at $92.34 a barrel. WTI crude shed 3.2 percent, to settle at $86.53 a barrel. Spot gold fell 0.2 percent to $1,774.79 per ounce. Spot silver fell 0.8 percent to $20.10 per ounce, platinum edged 0.1 percent higher to $933.72, while palladium rose 0.2 percent to $2,150.51.

In European Equity Markets stocks extended gains for a fifth straight session on Tuesday, buoyed by defensive sectors and miners, although concerns over a potential recession limited further upside. The continent-wide STOXX 600 index inched up 0.2 percent, hitting a fresh 10-week high after recouping much of its June losses this week. Miners jumped 3.2 percent to lead gains, lifted by a 5.5 percent rise in London-listed global miner BHP Group after stellar results. Pandora fell 6.1 percent after the Danish jewellery maker reported disappointing second-quarter sales in the U.S. market.

In Bond Markets U.S. Treasury yields edged higher on Tuesday on the back of encouraging data from American retail giants, which suggested the Federal Reserve has room to further tighten financial conditions as it battles four-decade-high inflation. Benchmark 10-year Treasury yields rose to 2.822 percent from 2.791 percent on Monday, while two-year note yields climbed to 3.249 percent from 3.203 percent. The closely watched yield curve between two- and 10-year notes – viewed as a reliable indicator that a recession will follow in 12 to 18 months – was at minus 43.1 basis points on Tuesday.