Japan’s Nikkei hit a record high on Tuesday as investors awaited Federal Reserve Chair Jerome Powell’s comments on potential rate cuts amid a cooling U.S. labor market.

EUROSTOXX 50 futures fell 0.3%, FTSE was flat, while S&P 500 and Nasdaq futures rose 0.2% and 0.3% respectively after Wall Street’s record highs on Monday.

The Nikkei surged 1.5% due to semiconductor gains, while the broader Asia-Pacific index was flat after reaching a two-year high. Taiwanese shares hit a record before droppin