Stock market today: Global shares trading mixed after Wall Street rally led by Microsoft gains

Other than that, the release of the minutes from the Feds latest policy meeting on Tuesday and preliminary reports on US business activity on Friday are among the highlights.In energy trading, benchmark US crude fell 31 cents to USD 77.52 per barrel in electronic trading on the New York Mercantile Exchange.

Global shares traded mixed on Tuesday after a rally on Wall Street that was led by gains in Microsoft following its announcement that it was hiring Sam Altman, former CEO of OpenAI, the ChatGPT maker.

US futures were lower, while oil prices fell.

France's CAC 40 lost 0.1 per cent in early trading to 7,238.89, while Germany's DAX rose 0.2 per cent to 15,936.25. Britain's FTSE 100 declined nearly 0.2 per cent to 7,483.15.

US shares were set to drift lower with Dow futures down nearly 0.1 per cent at 35,195.00. S and P 500 futures fell nearly 0.1 per cent to 4,559.00.

Chinese markets were initially lifted by a report in the financial magazine Caixin that regulators had drafted a list of property developers that will be able to tap low-cost financing. The moves to facilitate more lending come as the real estate industry remains mired in a crisis brought on by a crackdown on excessive borrowing and worsened by a broad economic slowdown.

Hong Kong's Hang Seng erased earlier gains and slipped 0.3 per cent to 17,733.89, while the Shanghai Composite inched down less than 0.1 per cent to 3,067.93.

“Hopes continue to build that China's unabating and deepening property slump ... will catch a break, if not stage a turnaround; in particular, as Beijing steps up stimulus efforts to backstop the downward spiral in the wider housing eco-system,” Tan Boon Heng of Mizuho Bank said in a commentary.

Tokyo's benchmark Nikkei 225 edged down 0.1 per cent to finish at 33,354.14. Australia's S and P/ASX 200 rose 0.3 per cent to 7,078.20 and South Korea's Kospi gained 0.8 per cent to 2,510.42.

Microsoft was the strongest force buoying Wall Street overnight, rising 2.1 per cent after saying it was hiring Sam Altman for a new venture following his sudden dismissal as CEO of OpenAI.

Microsoft said it will also continue its partnership with OpenAI, as fervour around artificial-intelligence technology and the huge profits it's expected to create wow Wall Street.

Investors are convinced that inflation is cooling enough for the Federal Reserve to finally be done with its market-crunching hikes to interest rates. Traders also are moving up their expectations for when the Fed could actually begin cutting interest rates.

The Thanksgiving holiday means the US government will release its weekly update on jobless claims on Wednesday instead of the usual Thursday. Other than that, the release of the minutes from the Fed's latest policy meeting on Tuesday and preliminary reports on US business activity on Friday are among the highlights.

In energy trading, benchmark US crude fell 31 cents to USD 77.52 per barrel in electronic trading on the New York Mercantile Exchange. It added USD 1.79 on Monday. Brent crude, the international standard, shed 36 cents to USD 81.96 per barrel.

In currency trading, the US dollar inched down to 147.45 Japanese yen from 148.37 yen. The euro cost USD 1.0957, up from USD 1.0941.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)