Stock market today: World shares are mixed as selling hits technology shares
World shares are mixed after an official survey showed Chinese factory activity weakening in May on slowing export orders
World shares were mixed on Friday after an official survey showed Chinese factory activity weakening in May on slowing export orders.
U.S. futures were little changed and oil prices slipped ahead of an OPEC meeting this weekend.
Technology-related shares saw some of the biggest declines after Nvidia, recently a market favorite thanks to Wall Street's frenzy over artificial-intelligence technology, sank 3.8% on Thursday.
European markets opened modestly higher, with the CAC 40 in Paris up 0.1% at 7,986.65. The FTSE 100 gained 0.4% to 8,259.68, while Germany's DAX was almost flat at 18,500.20.
The future for the S&P 500 was 0.1% lower while that for the Dow Jones Industrial Average was virtually unchanged.
Friday will bring a monthly update on a gauge of inflation that the Federal Reserve prefers to use. The tail end of earnings reporting is another driver for the market. Profits have largely been better than expected for the start of 2024.
In Asian trading, Tokyo's Nikkei 225 added 1.1% to 38,487.90 as reports circulated of plans for major investments by government-backed pension funds and other big institutional investors.
Semiconductor maker Tokyo Electron shed 2.5%.
The Nikkei financial news outlet said Japan is preparing to put nearly 100 trillion yen ($638 billion) more public money into the markets, following the lead of the Government Pension Investment Fund.
Chinese shares lost ground late in the day following the report showing further pressure on an economy already burdened by a prolonged crisis in the property industry.
Hong Kong's Hang Seng index shed 0.8% to 18,079.61 and the
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