Stock market today: Asian shares mostly rise, boosted by Wall Street records as Tesla zooms

Asian shares are trading mostly higher after Tesla zoomed upward, helping drive the U.S. stock market to more records. Benchmarks rose Wednesday in Tokyo, Seoul, Sydney and Hong Kong, but fell in Shanghai. Asian investors were cheered by hopes for an interest rate cut in the U.S. But some traders were keeping to the sidelines ahead of Thursday's Independence Day holiday in the U.S. U.S. futures slipped while oil prices rose. The S&P 500 rose 0.6% to top its all-time high set two weeks ago. The Dow added 0.4%. The Nasdaq climbed 0.8%. Tesla's shares jumped 10.2% after the electric-vehicle maker reported a milder drop in sales for the spring than analysts expected.