Good morning. US equity markets hit a record high last night amid expectations that the Federal Reserve would cut interest rates in July. The S&P 500 finished the day up 1 per cent, or 27.72 points, higher at 2,954.18. But the rally has quickly run out of steam. In Asia, where the prospect of a US-China trade war continues to weigh on sentiment, the Nikkei has traded lower overnight, closing down 0.95 per cent this morning at 21,258.64.

Source: The Times June 21, 2019 07:52 UTC