Stock markets marked time Tuesday as traders monitored key economic indicators, with US inflation data due later this week that could influence Federal Reserve policy.
On Wall Street, the Dow stood just in positive territory more than two hours into the session but the tech-heavy Nasdaq was off 0.3 percent and the broader S&P 500 was also marginally into the red.
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London ended the day flat and Paris and Frankfurt added barely half of one percent as investors digested purchasing managers' index (PMI) data — a closely watched gauge of economic health.
The index showed eurozone business activity hit a 16-month high in September, partly driven by solid growth in Germany, while France weighed on performance.
Britain's reading came in below expectations, suggesting the economy is losing momentum, analysts noted, as inflation fears linger.
Gold pushed to another all-time high and the dollar steadied.
Oil prices rose around two percent after the OECD on Tuesday raised its forecast for world economic growth this year.
Among shares on the move, while a clutch of major tech firms took a breather, consumer health company Kenvue rose around four percent, bouncing back from a record low in the previous session, after medical experts including the World Health Organization refuted US President Donald Trump's linking of the firm's popular pain reliever Tylenol to autism.
In focus remains Friday's report on US personal consumption expenditures, the Federal Reserve's preferred measure of inflation.
Markets expect two further interest rate cuts by the Fed by the end of the year as officials aim to shore up the stuttering labour market despite elevated inflation.
With US indices looking to build on a start to the week which saw them finish at fresh all-time highs, David Morrison, senior market analyst at Trade Nation, said that while “leading tech companies are investing hundreds of billions in generative AI… some investors continue to question if this is money well spent”.
Yet, “despite this, equities continue to grind higher with little indication that there's anything on the horizon which could derail the current rally,” he added.
With trade subdued by a holiday in Japan and an approaching typhoon in Hong Kong, Asian markets mostly drifted as Hong Kong and Shanghai both closed lower.
Taipei jumped more than one percent, with chip titan TSMC soaring over three percent as it tracked US counterpart Nvidia, which announced a $100-billion investment in OpenAI for next-generation artificial intelligence.
