S&P 500, Nasdaq open higher
U.S. dollar index edges up, dollar up vs yen
Nvidia shares bounce after recent losses
(Updates to 9:30 a.m. ET)
Global stock indexes were mostly higher on Tuesday, with shares of Nvidia bouncing in early U.S. trading, while the dollar edged up slightly against the the Japanese yen.
Nvidia NVDA.O shares were up more than 2% after selling off in recent sessions. The S&P 500 and Nasdaq were also higher in early trading.
Excitement over artificial intelligence has powered stocks like Nvidia higher and helped to lift the U.S. stock market to recent record highs, but it remains to be seen whether that will continue, or for how long.
The chipmaker had rocketed higher to briefly become the world's biggest company last week, but tumbled around 16 percent from last Thursday's peak to this Monday's close.
"The question investors now need to ask is if the sell-off has gone far enough since the stock (Nvidia) is in correction territory, or if this is a structural shift lower that will weigh on the major U.S. indices and allow other regions and indices to play catch up," said Kathleen Brooks, research director at XTB.
Investors are also gearing up for data on the personal consumption expenditures price index on Friday for further clues on the inflation picutre and when the Federal Reserve might begin cutting interest rates.
They also await snap elections in France starting at the weekend and the first U.S. Presidential debate on Thursday.
The Dow Jones Industrial Average .DJI fell 82.82 points, or 0.21%, to 39,328.39, the S&P 500 .SPX gained 8.99 points, or 0.17%, to 5,456.86 and the Nasdaq Composite .IXIC added 72.99 points, or 0.42%, to 17,569.81.
The pan-European STOXX 600 index .STOXX lost 0.44% and MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.13%.
The yen JPY=EBS was keeping traders alert for any signs of further intervention from Japanese authorities to prop up the currency as it traded just above a two-month low of around 160 to the dollar.
It hit a record low against the euro EURJPY=R of 171.49 on Monday as pressure on the currency mounted thanks to interest rates in Japan that remain far lower than in the United States and Europe.
The dollar was last up 0.06% at 159.68 yen JPY=EBS , holding to a tight range.
The dollar index =USD rose 0.114%, with the euro EUR= down 0.21% to $1.0709.
In Treasuries, benchmark 10-year notes US10YT=RR were up 0.2 basis points to 4.250%, from 4.248% late on Monday.
U.S. crude CLc1 recently fell 0.21% to $81.46 per barrel and Brent LCOc1 was at $85.84, down 0.2% on the day.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Asia stock markets https://tmsnrt.rs/2zpUAr4Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA Nvidia slides from record high but remains up 140% this year https://reut.rs/4eFvYwe
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