Stock market today: Global shares mostly decline after Nasdaq ticks to a record high
Global shares have retreated even after most U.S. stock indexes finished higher, especially technology issues like Nvidia
TOKYO — Global shares retreated Tuesday, even as most U.S. stock indexes finished higher, especially technology issues like Nvidia.
France's CAC 40 lost 0.7% in early trading to 8,137.16, while Germany's DAX declined 0.3% to 18,704.35. Britain's FTSE 100 fell nearly 0.4% to 8,393.84.
The future for the Dow Jones Industrial Average inched down less than 0.1% and the S&P 500 future was virtually unchanged.
In Asian trading, Japan's benchmark Nikkei 225 fell 0.3% to 38,946.93. Australia's S&P/ASX 200 lost 0.2% to 7,851.70. South Korea's Kospi fell 0.7% to 2,724.18. Hong Kong's Hang Seng dove 2.1% to 19,220.62, while the Shanghai Composite shed 0.4% to 3,157.97.
In Asia, investors are focused on signs about the health of Chinese economy. S&P Global Market Intelligence raised this year's growth forecast to 4.8% from 4.7% in April, but stressed it was not overly optimistic.
“The overall outlook of a tepid economic recovery remains unchanged, with the expansion supported by enhanced policy stimulus, strengthening external demand and gradually improving private-sector confidence,” it said in a report.
Hopes are growing that the Federal Reserve will be able to cut interest rates this year as inflation cools. More reports showing big U.S. companies are earning fatter profits than expected also boosted stock prices.
This week has few top-tier economic reports, like last week’s headliner that showed inflation may finally be heading back in the right direction following a discouraging start to the year. But some potentially market-moving reports on corporate profits are on the calendar.
Atop them all is
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