Global stocks muted, Meta to unveil Twitter rival - what's moving markets

investing.com:

Investing.com — Global stocks search for direction with Wall Street set to remain closed on Tuesday for the July 4 holiday. Meanwhile, Meta gears up to release a platform to rival Twitter later this week in a bid to attract users unhappy with Elon Musk's management of the social media site. Elsewhere, China unveils export controls on two key minerals in the latest development of an ongoing war over microchips between Beijing and the West.

1. Global stocks muted amid U.S. holiday, light data calendar

European and Asian stock markets hovered broadly around the flatline on Tuesday as investors were searching for cues in a light data calendar and a U.S. holiday.

At 05:07 ET (09:07 GMT), the DAX index in Germany slipped 6 points or 0.04%, France's CAC 40 rose by 3 points or 0.05%, and the pan-European Stoxx 600 gained 1 point or 0.23%. In the U.K., the FTSE 100 index edged up by 8 points or 0.11%.

The muted trading in the region comes after shares in Asia moved in a flat-to-low range, with a string of weak data prints from major economies denting risk appetite. Japanese stocks, in particular, slid from 33-year highs, in a sign that a recent rally in equities in the country may be stalling.

Elsewhere, China's Shanghai Shenzhen CSI 300 and Shanghai Composite posted small increases, while the KOSPI in South Korea shed 0.35%.

Markets on Wall Street, meanwhile, will be closed today for the Independence Day holiday.

2. Meta's Twitter rival

Facebook-owner Meta (NASDAQ:META) is set to unveil its answer to Twitter later this week, according to a listing in the Apple App Store, piling pressure on Elon Musk's social media company to retain users who have become disgruntled over the billionaire's management of the business.

Meta's new