(Recasts, updates with European trading)

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Markets eye dovish tilt at Fed as Miran appointed

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Nasdaq futures rise, on track for third day of gains

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Gold futures jump on reports of U.S. tariffs

By Gregor Stuart Hunter and Amanda Cooper

SINGAPORE/LONDON, Aug 8 (Reuters) - Global shares rose

on Friday, along with the dollar, as investors clung to the view

that U.S. rates may fall further this year, and gold futures

rallied on reports of duties on U.S. imports of bullion bars,

most of which come from Switzerland.

An index of world stocks traded near record highs, shrugging off

weakness on Wall Street overnight, while in Europe, shares got a

lift from a spate of robust earnings and from optimism that the

hefty U.S. tariffs that kicked in on Thursday would be subject

to negotiation.

The outlook for monetary policy in the United States, a

linchpin for global markets, has been further thrown into

question by a series of changes at the Federal Reserve, where

policymakers are divided on the impact of inflation and the

central bank's leadership is shifting.

U.S. President

Donald Trump

said on Thursday he would nominate Council of Economic

Advisers Chairman Stephen Miran to fill a

vacant seat

at the Fed for a few months while the White House seeks a

permanent addition to the central bank's governing board and

continues its search for a new chair.

Miran holds similar views to Trump, who has berated Chair

Jerome Powell for being "too late" in cutting interest rates,

even though growth is holding up and inflation is ticking

higher.

"It locks in a vote for rate cuts at all the meetings

between now and the end of January," said Ray Attrill, head of

FX strategy at National Australia Bank in Sydney.

"Markets are already travelling with a very strong

expectation that there will be a rate cut," he added. "Though

there's a question mark over whether he'll succeed in

ratification in time for the September meeting."

The MSCI All-Country index was up 0.12% on

the day, just below record-highs struck two weeks ago, and was

heading for a 2% rise this week, its best performance since

mid-June.

Europe's STOXX 600 was up 0.25%, led by gains in

pharma and technology shares. Zurich's SMI index, which

on Thursday shrugged off Switzerland's 39% U.S. tariff coming

into effect, was up another 0.25% on Friday morning.

In Asia, Japan's Nikkei 225 rose 2% and the Topix

index climbed more than 1% to a fresh record, trading

above 3,000 for the first time.

The market is also digesting a Bloomberg News report that

Fed Governor Christopher Waller is the top candidate to replace

Chair Jerome Powell, whose term ends on May 15, 2026.

U.S. gold futures hit a record high after a report in the

Financial Times that the United States had imposed tariffs on

imports of 1-kg gold bars, which comprise the bulk of

Switzerland's bullion exports to the U.S., citing a letter from

Customs and Border Protection.

Spot gold edged up 0.1% to $3,400 an ounce, while gold futures

rose as much as 2.3% to an all-time peak of $3,477.

U.S. stock futures were both up 0.2%, pointing to

a modest rise at the opening bell later.

The rally for stocks comes "against the backdrop of an

emerging titanic dovish pivot at the Federal Reserve," said Tony

Sycamore, market analyst at IG in Sydney.

The yield on benchmark 10-year Treasury notes rose

to 4.2442%, unchanged from the U.S. close on Thursday, after

weak demand at an auction of 30-year bonds, the latest in a

string of lacklustre sales this week.

The dollar rose 0.1% against the yen to 147.24.

As the effective date of recent U.S. trade duties arrived,

Tokyo's trade negotiator said the U.S. government on Thursday

promised it would fine-tune some of its overlapping tariffs on

Japanese goods to avoid the duties being paid on some products

twice.

The euro dipped 0.2% to $1.1648, having gained 2.13%

in a month, while the dollar index, which tracks the

greenback against a basket of currencies of other major trading

partners, was up 0.2% at 98.21.