TOKYO (AP) — World shares were trading mixed early Thursday after Wall Street’s rally stalled, as investors appeared not to react much to the results of the latest round of
Germany’s DAX lost 0.7% to 23,787.77 and the CAC 40 in Paris slipped 0.4% to 7,744.41.
Britain’s FTSE 100 was nearly unchanged at 8,863.07.
The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.3%.
In Asian trading, Japan’s Nikkei 225 lost 0.5% to 38,216.06.
Hong Kong’s Hang Seng sank 0.5% to 24,234.80, while the Shanghai Composite index edged 0.1% lower to 3,404.66.
In South Korea, the Kospi gained 0.9% to 2,933.44, while Australia’s S&P/ASX 200 edged 0.1% higher to 8,604.50.
Taiwan’s Taiex lost 0.8%.
On Wednesday, the S&P 500 fell 0.3% to 6,022.24 for its first loss in four days. The Dow Jones Industrial Average was virtually unchanged at 42,865.77 after edging down by 1 point. The Nasdaq composite slipped 0.5% to 3,400.30.
Several Big Tech stocks led the way lower, and a 1.9% drop for Apple was the heaviest weight on the market. It’s been listless this week after unveiling several .
The action was stronger in the bond market, where Treasury yields eased after a report suggested are not pushing much higher, at least not yet.
U.S. consumers had to pay prices for food, gasoline and other costs of living that were 2.4% higher overall in May than a year earlier. That was up from April’s 2.3% inflation rate, but it wasn’t as bad as the 2.5% that Wall Street was expecting.
A fear has been that Trump’s wide-ranging tariffs could ignite an acceleration in inflation, just when it had seemed to get nearly all the way back to the Federal Reserve’s 2% target from more than 9% three summers ago. It hasn’t happened, though economists warn it may take months more to feel the full effect of Trump’s tariffs.
that China will supply rare-earth minerals and magnets to the United States, while his government will allow Chinese students into U.S. universities in a deal that still needs an agreement by him and by China’s leader. Trump also said that “President XI and I are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!”
Investors are still hoping for a more sweeping trade deal that would ease tensions between the world’s two largest economies.
Hopes for such deals between the United States and countries around the world have been one of the main reasons the S&P 500 has charged nearly all the way back to its all-time high after dropping roughly 20% below a couple months ago. Without them, the fear is that Trump’s high tariffs could drive the economy into a recession while pushing inflation higher. The S&P 500 is now sitting 2% below its record.
Tesla swung between gains and losses before finishing with a rise of 0.1% to continue its shaky run. It’s been recovering much of its big losses taken last week after Elon Musk’s relationship with Trump imploded, which in turn raised fears about a loss of business for the electric-vehicle company. Musk on Wednesday and said they went “too far.”
In the bond market, the yield on the 10-year Treasury eased to 4.41% from 4.47% late Tuesday. Shorter-term yields, which more closely track expectations for what the Federal Reserve will do with overnight interest rates, fell more.
Wednesday’s better-than-expected reading on inflation raised expectations along Wall Street that the Fed could cut its main interest rate at least twice by the end of the year.
In other dealings early Thursday, U.S. benchmark crude oil lost 46 cents to $67.69 per barrel. Brent crude, the international standard, shed 53 cents to $69.24 per barrel.
The U.S. dollar slipped to 143.90 Japanese yen from 144.60 yen. The euro rose to $1.1518 from $1.1487.
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