US and Canadian stocks surge as markets anticipate a Fed interest rate cut in September.

US and Canadian stock markets are rising, buoyed by expectations of a Federal Reserve interest rate cut in September. The S&P 500 and Dow Jones Industrial Average are near record highs, while the Canadian S&P/TSX Composite Index also increased, supported by telecom stocks. Global markets are also rallying, with Asian and European indexes seeing significant gains. Treasury yields are easing, and the prospect of lower rates is seen as positive for investment prices and the economy, though it could lead to inflation risks.