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Global shares rose on Wednesday, fuelled by positive earnings, improving manufacturing data in Europe and the United States and optimism that China will support to its stock markets. U.S. Treasury yields fell as investors awaited the first read of fourth-quarter U.S. gross domestic product for 2023 and next week’s meeting of the Federal Reserve, when policymakers may hint at when they start much-anticipated interest rate cuts. On Wall Street the benchmark S&P 500 hit new intraday record highs as Netflix shares surged after the video streaming service smashed subscriber growth expectations and chip stocks gained on strong earnings from Dutch chipmaking equipment manufacturer ASML Holding.     Economic data was also a boost with U.S. business activity picking up in January and inflation appearing to abate. S&P Global said its flash U.S. Composite PMI Output Index, tracking manufacturing and services sectors, rose to its highest level since June, driven by gains in both services and manufacturing.

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