FTSE 100 Nears Record High as Global Investors Return

London's FTSE 100 opened flat on Wednesday as falling crude oil prices weighed on major energy firms BP and Shell, offsetting gains in airline and mining stocks. The index remains just 0.3% below its record closing high from February, supported by renewed global investor interest. The index has risen 9.5% this year, driven by demand for stable developed-market stocks and a resurgence of international investment. Treasury yields fell amid reports of potential oil supply increases through the Strait of Hormuz and speculation about US Treasury intervention using its $1 trillion General Account. Investors await the Federal Reserve's preferred inflation gauge, the PCE index, expected to show headline inflation at 3.6% and core at 3.2% for July. Nvidia's earnings due after market close are projected to show 97% revenue growth to $92 billion, with potential for significant market volatility.