Stock market today: Global shares mostly rise on hopes for US rate cuts

Global shares are mostly higher after Tesla zoomed upward, helping drive the U.S. stock market to more records. Benchmarks rose in most European and Asian markets apart from Shanghai. Oil prices rose and U.S. futures were moderately higher. U.S. markets will be closed on Thursday for the Independence Day holiday. On Tuesday, Tesla's shares jumped 10.2% after the electric-vehicle maker reported a milder drop in sales than analysts had expected. The S&P 500 added 0.6%, topping its all-time high set two weeks ago. The Dow Jones Industrial Average rose 0.4% and the Nasdaq composite added 0.8%, besting its own record set a day earlier.