Stock market today: World shares are mixed after Wall St regains its stride

BANGKOK (AP) — World shares were mixed on Tuesday after U.S. stocks recovered somewhat from last week’s swoon.

Germany's DAX lost 1.3% to 18,935.34, while the CAC 40 in Paris sank 1.5% to 7,169.40. Britain's FTSE 100 shed 0.5% to 8,065.62.

The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.5%.

In Asian trading, Tokyo's Nikkei 225 rose 0.5% to 38,414.43 and the Kospi in Seoul picked up 0.1% to 2,471.95.

Chinese shares rebounded from early losses. They have wavered under concern over potential tariff hikes on by President-elect Donald Trump’s future administration and worries that recently announced stimulus policies won't have enough impact to break the economy out of the doldrums.

The Shanghai Composite index rose 0.7% to 3,346.01, while Hong Kong's Hang Seng dipped and then recovered, adding 0.4% to 19,663.67.

“The broader market sentiment remains cautious, with futures showing resilience even as reasonable fears of a looming global trade war cast a shadow over bolder directional moves,” Stephen Innes of SPI Asset Management said in a commentary.

India's Sensex jumped gained 0.3%, while the Taiex in Taiwan surged 1.3%. In Bangkok, the SET gained 0.7%.

On Monday, the S&P 500 rose 0.4% in its first gain in three days. The Dow Jones Industrial Average slipped 0.1% and the Nasdaq composite gained 0.6%.

Stocks regained some momentum after giving back more than half their postelection gains at the end of last week. Investors had sent the S&P 500 nearly 4% higher in the days immediately following Trump’s presidential win. Bank stocks, smaller companies and other areas of the market seen as the biggest winners from Trump’s preference for lower tax rates, higher tariffs and lighter regulation did particularly well.

Attention also has turned to who Trump might nominate as his future Treasury secretary.

“Given the large U.S. budget deficit, investors will probably want to see a safe pair of hands being chosen,” ING Economics said in a commentary.

Investors have been bracing for some potential downsides of Trump’s reshaping of the economy. Moderna rose 7.2% on Monday but is still down since word came out that Trump wants Robert F. Kennedy Jr., a prominent anti-vaccine activist, to lead the Department of Health and Human Services.

Worries about potentially higher inflation under Trump have also sent Treasury yields upward. That could tie the Federal Reserve’s hands when the central bank is trying to cut interest rates to ease pressure on the economy and keep the job market humming.

Several big-name companies will be reporting their latest quarterly results this week, including market heavyweight Nvidia on Wednesday. The chip company, with its total market value of nearly $3.5 trillion, will need to hit analysts’ high expectations for growth during the latest quarter to justify its big stock price, which has surged 183% this year.

Other big companies set to report this week include Lowe’s and Walmart on Tuesday, Target on Wednesday and Deere on Thursday.

In other dealings early Tuesday, benchmark U.S. crude oil shed 27 cents to $68.90 per barrel in electronic trading on the New York Mercantile Exchange.

Brent crude, the international standard, declined 21 cents to $73.09 per barrel.

The dollar fell to 153.76 Japanese yen from 154.67 yen. The euro slipped to $1.0541 from $1.0599.

FILE - People pass the New York Stock Exchange on Nov. 5, 2024, in New York. (AP Photo/Peter Morgan, File)

Currency traders pass by a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won, center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Nov. 19, 2024. (AP Photo/Ahn Young-joon)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won, center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Nov. 19, 2024. (AP Photo/Ahn Young-joon)

A currency trader reacts near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Nov. 19, 2024. (AP Photo/Ahn Young-joon)

ROME (AP) — Italy's Premier Giorgia Meloni suffered election setbacks in two regions as the opposition Democratic party won a tight race in the central Umbria region and deepened its control of the traditional left-leaning stronghold of Emilia-Romagna.

The results of the two-days of voting that ended Monday were a clear victory for Democratic Party leader Elly Schlein, who called the outcome “extraordinary.’’

Stefania Proietti won with 51% of the vote in Umbria, compared with 46% for the conservative coalition’s candidate. In the northern region of Emilia Romagna, the left’s candidate Michele de Pascale won 57% of the vote, improving the party’s 51% result in the last regional vote in 2020.

In both cases, the Democratic Party candidate won without the support of the 5-Start Movement, which has been in a shaky center-left coalition.

The bigger electoral test for Meloni comes in 2025 when six regions head to the polls, including the populous norther region of Veneto that has long been governed by the populist League, a key member of her ruling coalition. Meloni’s coalition held on to control of the Ligurian region last month in an election prompted by the resignation of the right-wing governor in a scandal.

FILE -Demonstrators hold placards of Italian Premier Giorgia Meloni, left, and Italian Democratic Party Leader Elly Schlein reading: complicit in the genocide, as they take part in a national antigovernment demonstration, in Rome, June 1, 2024. (AP Photo/Grogorio Borgia, File)