Morning Report 18 Oct 24: Dow and S&P 500 flirt with record highs as chip stocks and retail data support markets

Wall Street consolidates on signs of a strengthening U.S. economy, with retail sales as a key highlight. U.S. bond yields surge as traders scale back expectations of Fed rate cuts. In Europe, German shares reach record highs after the ECB lowers interest rates. Meanwhile, Aussie shares are set to decline as a robust job market dashes hopes for an RBA rate cut.

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