Wall Street scaled new record highs overnight as investors continued to anticipate interest rate cuts and with small-cap stocks outperforming their larger tech counterparts. Meanwhile, Scott Bessent suggested Nvidia and AMD’s agreements with China could serve as a model for other firms, while CoreWeave shares tumbled after widening losses from its AI buildout. On the other hand, Paramount shares soared 36%, and Bullish doubled in its NYSE debut. Back home, Aussie shares are expected to rebound on Thursday as investors brace for the release of the July jobs report, with Telstra’s earnings also in focus today.

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