US and European stock markets rose, and gold hit a record high, driven by Fed rate cut expectations and UK's pro-growth budget.

US and European stock markets rose, with gold hitting a record high, as the Federal Reserve's rate cut expectations and the UK's pro-growth budget fueled optimism. In volatile trading, gold reached $2,150, while US indices, FTSE 100, CAC 40, DAX, and EURO STOXX 50 also saw gains. This comes ahead of Fed chief Jerome Powell's testimony for further signals on interest rates.