Stock Market Today: Global Stocks Fall Mostly After Nasdaq Hits a Record

TOKYO – Global stocks retreated on Tuesday even as most U.S. stock indexes ended higher, especially technology stocks like Nvidia.

France’s CAC 40 lost 0.7% in early trading to 8,137.16, while Germany’s DAX fell 0.3% to 18,704.35. Britain’s FTSE 100 fell almost 0.4% to 8,393.84.

The Dow Jones Industrial Average future fell less than 0.1% and the S&The future of the P 500 remained largely unchanged.

In Asian trading, Japan’s benchmark Nikkei 225 index fell 0.3% to 38,946.93. S of Australia&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 fell 2.1% to 19,220.62, while the Shanghai Composite fell 0.4% to 3,157.97.

In Asia, investors are focused on signs about the health of the Chinese economy. s&AP Global Market Intelligence raised this year’s growth forecast to 4.8% from 4.7% in April, but emphasized that it was not overly optimistic.

“The general outlook for a tepid economic recovery remains unchanged, with the expansion supported by reinforced political stimulus, strengthening external demand and gradually improving private sector confidence,” he 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 that large U.S. companies are making higher-than-expected profits also boosted stock prices.

This week we have few high-level economic reports, like last week’s headliner which showed that inflation may finally be heading back in the right direction after a dismal start to the year. But some company earnings reports that could influence the market are on the calendar.

At the top of them all is Nvidia, whose rocket ride amid a frenzy around artificial intelligence technology has been one of the main reasons for the S.&P500 earnings in the last year. The company will release its latest quarterly results on Wednesday and expectations are high. Analysts expect its revenue to more than triple to $24.59 billion from the previous year.

Its shares rose 2.5%, bringing its year-to-date gain to 91.4%.

On Wednesday, the Federal Reserve will release the minutes of its last meeting, where it once again maintained its main interest rate at the highest level in more than two decades.

In other trading, benchmark U.S. crude fell 87 cents to $78.93 a barrel. Brent crude, the international standard, fell 64 cents to $83.07 a barrel.

The US dollar fell to 156.15 Japanese yen from 156.27 yen. The euro cost $1.0864, ​​up from $1.0861.