Stock market today: World shares are mixed as Japan's Nikkei 225 hits a new high, with eyes on Fed

Shares have opened higher in Europe after most markets in Asia declined, although Tokyo's Nikkei 225 index closed at another record high. Investors are awaiting comments by Federal Reserve Chair Jerome Powell to a congressional committee and looking ahead to earnings reports. The Japanese benchmark gained 0.6% to end trading at 41,831.99. U.S. futures were little changed and oil prices fell. On Tuesday, the S&P 500 and the Nasdaq composite each rose 0.1% adding to their recent records. The Dow Jones Industrial Average fell 0.1%. Wall Street expects a report on Thursday to show consumer prices eased to 3.1% in June from 3.3% in May. A report for inflation at the wholesale level is expected Friday.