Portugal Colonial - Stock markets waver as traders weigh Trump tariffs, inflation

The Dow rose but the tech-heavy Nasdaq and the broad-based S&P 500 index fell after the opening bell on the eve of the Thanksgiving holiday.

European stock markets fluctuated in afternoon deals on concerns Europe could be the next tariffs target for US president-elect Donald Trump.

The Paris stock market slid 0.8 percent as a French political standoff over a belt-tightening draft budget for 2025 threatens to topple the government.

Frankfurt fell but London was up.

Trump named a tough-negotiating hawk to be his trade envoy when he takes office in January and announced plans to hit China, Canada and Mexico with hefty tariffs from January.

"Investors are growing increasingly concerned that Donald Trump's next tariff target is continental Europe," said Dan Coatsworth, investment analyst at AJ Bell.

For Europe, this would create "another potential headwind on top of the existing one in the form of lacklustre economic activity", he added.

Trump has announced Jamieson Greer as his trade envoy, saying he played a "key role" in imposing tariffs on China during his previous term in office.

The dollar dropped against main rivals awaiting the release Wednesday of the Federal Reserve's preferred gauge of inflation.

Other official data confirmed the US economy grew 2.8 percent in the third quarter.

The Fed has indicated support for a gradual approach to future interest-rate cuts as the jobs market remains solid, according to minutes from their November policy meeting.

Elsewhere, oil prices were flat after sliding on news that Israel and Hezbollah in Lebanon had agreed a ceasefire.

Crude steadied as traders expect key OPEC+ nations to delay a pick-up in production, which was due to begin in January, when they meet Sunday.

Bitcoin sat around $94,400, having hit a record Friday and come within a whisker of the $100,000 mark on hopes that Trump will move to ease restrictions on the crypto market.

After another record-breaking lead from Wall Street on Tuesday, Chinese markets rallied as data showed that China's industrial sector narrowed losses in October.

The price of another commodity, Arabica coffee, reached the highest level since 1977 on concerns of limited supplies caused by drought in Brazil this year.

A pound of Arabica beans listed in New York hit 320.10 US cents, extending the commodity's rally over the past year and pushing past a nearly 30-year high the day prior.

In Asia, the Tokyo stock market fell with Hello Kitty owner Sanrio tumbling more than 14 percent after major shareholders said they would reduce their stake in the firm.

In London, shares in EasyJet fell one percent despite the UK airline posting a 40-percent rise in annual profits on strong demand for its package holidays.

In Frankfurt, Volkswagen shed 0.4 percent after it announced it would sell its operations in China's Xinjiang region, where Beijing has been accused of widespread human rights abuses including forced labour.

- Key figures around 1440 GMT -

New York - Dow: UP 0.1 percent at 44,923.24 points

New York - S&P 500: DOWN 0.1 percent at 6,013.60

New York - Nasdaq: DOWN 0.4 percent at 19,107.40

London - FTSE 100: UP 0.1 percent at 8,270.05

Paris - CAC 40: DOWN 0.8 percent at 7,139.45

Frankfurt - DAX: DOWN 0.3 percent at 19,243.93

Tokyo - Nikkei 225: DOWN 0.8 percent at 38,134.97 (close)

Hong Kong - Hang Seng Index: UP 2.3 percent at 19,603.13 (close)

Shanghai - Composite: UP 1.5 percent at 3,309.78 (close)

Euro/dollar: UP at $1.0553 from $1.0482 on Tuesday

Pound/dollar: UP at $1.2648 from $1.2567

Dollar/yen: DOWN at 151.39 yen from 153.06 yen

Euro/pound: UP at 83.46 pence from 83.41 pence

Brent North Sea Crude: FLAT at $72.29 per barrel

West Texas Intermediate: FLAT at $68.76 per barrel

C.Amaral--PC