Asian shares have logged modest gains after U.S. stocks climbed to near their all-time high as investors considered comments by Federal Reserve Chair Jerome Powell to Congress.
Oil prices gained more than 1% early Wednesday after falling about 6% on Tuesday on hopes that Israel’s war with Iran will not hinder the global flow of crude. Lower oil prices could give the Federal Reserve leeway to cut interest rates to help the economy, and Powell said it is waiting for the right time to do so.
