Stock market today: Global shares are mixed in muted trading after Wall Street barely budges

TOKYO (AP) — Global shares were mixed in muted trading Tuesday after U.S. stock indexes were little changed ahead of the release of inflation data.

France's CAC 40 slipped less than 0.1% in early trading to 8,203.71, while Germany's DAX shed 0.2% to 18,697.53. Britain's FTSE 100 rose nearly 0.2% to 8,428.44. The future contracts for the Dow Jones Industrial Average and SP 500 were little changed.

Japan's benchmark Nikkei 225 gained 0.5% to finish at 38,356.06. Australia's S&P/ASX 200 slipped 0.3% to 7,726.80. South Korea's Kospi rose 0.1% to 2,730.34.

Chinese markets were flat ahead of an expected announcement by the Biden administration on raising tariffs on imports from China. Hong Kong's Hang Seng slipped 0.2% to 19,073.71, while the Shanghai Composite lost less than 0.1%, to 3,145.77.

Investors also were watching for indicators on inflation to gauge the direction of economic growth, as well as the strength of the dollar.

“Today marks a significant day for both Germany and the U.S.A. as they are set to unveil crucial economic data,” said Luca Santos, market analyst at ACY Securities, referring to consumer price data from Germany and producer costs in the U.S.

“Despite their different focuses, both indices offer insights into how inflation is shaping society,” said Santos.

On Monday, the S&P 500 edged down less than 0.1%. It remains within 0.6% of its record set at the end of March.

The Dow Jones Industrial Average slipped 0.2% and the Nasdaq composite rose 0.3%.

Stocks have broadly rallied this month following a rough April on revived hopes that inflation may ease enough to convince the Federal Reserve to cut its main interest rate later this year. A key test for those hopes will arrive Wednesday, when the U.S. government offers the latest monthly update...