TOKYO -- Global stocks retreated on Tuesday, even as most U.S. stock indexes finished higher, especially tech 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 from Australia&The 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 lost 0.4% to 3,157.97.
In Asia, investors are focused on signs about the health of the Chinese economy. Yes&P Global Market Intelligence raised its growth forecast for this year to 4.8% from 4.7% in April, but stressed it was not overly optimistic.
"The overall outlook for a tepid economic recovery remains unchanged, with the expansion supported by further policy stimulus, strengthening external demand and a gradual improvement in private sector confidence," it said in a report.
Hopes are growing that the Federal Reserve could cut interest rates this year as inflation cools. More reports showing that large U.S. companies are making bigger-than-expected profits also boosted stock prices.
There are few top-tier economic reports this week, like last week's headline that showed inflation may finally be heading back in the right direction after a discouraging start to the year. But there are some reports on the calendar that could influence the market on corporate earnings.
Atop them all is Nvidia, whose rocket ride amid a frenzy around AI technology has been one of the main reasons for the S.&The gains of the P 500 over the last year. It will report its latest quarterly results on Wednesday and expectations are high. Analysts forecast its revenue will more than triple to $24.59 billion from a year ago.
Its shares rose 2.5% to take its year-to-date gain to 91.4%.
On Wednesday, the Federal Reserve will release the minutes of its latest meeting, in which it once again kept its key 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 was worth $1.0864, โโdown from $1.0861.
