BANGKOK — World shares and U.S. futures were mixed on Monday after Wall Street was buoyed by revived hopes for an interest rate cut by the Federal Reserve.
The future for the S&P 500 was up 0.2% while that for the Dow Jones Industrial Average was nearly unchanged.
Germany’s DAX gained 0.5% to 23,201.85, while the CAC 40 edged less than 0.1% lower to 7,978.77. Britain’s FTSE 100 inched up 0.1% to 9,547.77.
Markets in Japan were closed for a holiday.
Hong Kong’s benchmark, the Hang Seng, rose 2% to 25,716.50. It got a boost from a 4.7% gain for e-commerce giant Alibaba, which has reported strong demand for its updated Qwen AI app. Alibaba is due to report earnings on Tuesday.
The Shanghai Composite index rose less than 0.1% to 3,836.77.
Australia’s S&P/ASX 200 gained 1.3% to 8,525.10.
In South Korea, the Kospi reversed early gains, falling 0.2% to 3,846.06 on heavy selling of automakers.
Taiwan’s Taiex added 0.3% and the Sensex in India shed 0.4%.
This week, U.S. markets will be closed Thursday for the Thanksgiving holiday, which will be followed by the Black Friday and Cyber Monday retail rushes.
After last week’s ups and downs over AI and Nvidia, traders will focus more on “the backbone of U.S. growth, the consumer, whose spending still drives two-thirds of GDP,” Stephen Innes of SPI Asset Management said in a commentary.
Data on the U.S. economy was scarce during the 6-week U.S. government shutdown, leaving investors struggling to parse trends in the economy.
“This makes any sniff of holiday activity — foot traffic, discount depth, card authorizations — disproportionately important. In a data desert, even a puddle looks like a lake,” he said.
On Friday, the S&P 500 gained 1% and the Dow climbed 1.1%. The Nasdaq composite rose 0.9%. Nearly 90% of stocks