Global shares trade mixed after Wall Street dips amid dimming rate cut hopes

Global shares traded mixed Thursday as pessimism spread among investors about any imminent interest rate cut in the United States.

France's CAC 40 added 0.2% to 7,334.46 in early trading. Germany's DAX was little changed, declining less than 0.1% to 16,431.08. Britain's FTSE 100 declined nearly 0.1% to 7,440.86. U.S. shares were set to be mixed with Dow futures inching down less than 0.1% to 37,444.00, while S&P 500 futures edged up nearly 0.1% to 4,773.50.

Japan's benchmark Nikkei was little changed, inching down less than 0.1% to finish at 35,466.17. Australia's S&P/ASX 200 slipped 0.6% to 7,346.50. South Korea's Kospi gained 0.2% to 2,440.04. Hong Kong's Hang Seng reversed earlier losses and added 0.8% to 15,391.79, while the Shanghai Composite rose 0.4% to 2,845.78.

Speculation has been growing that the Federal Reserve may wait longer than traders expect to begin cutting interest rates after jacking them drastically higher over the past two years. Lower rates would relax the pressure on the economy and financial system, while also goosing prices for investments.

"Investors continue to come back to their senses, and the latter involves trimming the interest rate cut expectations," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

"Robust economic data added to the thinking that, yes, maybe March is too early for the Fed to announce the first rate cut."

In energy trading, benchmark U.S. crude rose 56 cents to $73.12 a barrel. Brent crude, the international standard, added 34 cents to $78.22 a barrel.

In currency trading, the U.S. dollar inched down to 147.84 Japanese yen from 148.11 yen. The euro cost $1.0885, little changed from $1.0886.