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Stocks and gold surged to new highs as investors anticipated a Federal Reserve interest-rate cut. The MSCI All Country World Index rose 0.1% for its 10th consecutive day of gains, marking its longest winning streak in more than four years.

Global stock markets remained near record highs as investors awaited the Federal Reserve’s policy decision, with expectations of a 25-basis-point rate cut and speculation about further easing into next year.

Yesterday, French Prime Minister François Bayrou lost a confidence motion in parliament. He is expected to resign today, marking the third change in government in just over a year. President Macron is expected to name a new premier in the coming days.