GLOBAL MARKETS-Nikkei Hits Record High, Investors Await Fed Chair's Testimony

GLOBAL MARKET - SYDNEY. Japan's Nikkei hit a record high on Tuesday, while investors elsewhere waited anxiously to see if Federal Reserve Chair Jerome Powell would sound supportive of rate cuts after evidence the U.S. labour market is cooling.

Europe is set for a lower open, with EUROSTOXX 50 futures off 0.3% and FTSE flat. S&P 500 futures gained 0.2% and Nasdaq futures firmed 0.3%, after Wall Street equities inched higher to close at record highs on Monday.