Global stocks are at record highs

World stocks hit record highs on Thursday and the dollar dipped after the U.S. Federal Reserve signaled caution in raising interest rates, while oil fell after top producers extended output cuts for shorter than some in markets had expected.
The S&P 500 and Nasdaq rose to new highs in early trading. The benchmark index was up 3 points, or 0.16%, at 2,408.25 at 9:42 a.m. ET. The VIX "fear gauge" of expected volatility in the S&P 500 opened at 9.82, its lowest since May 10.
European shares