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.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.A rise in tech giants helped lift major Wall Street indices to fresh highs on Monday.However, there are growing worries that the surge may have gone too far and markets are due a pullback with eyes on a possible government shutdown in Washington.Elsewhere, investors will keep an eye on an expected meeting between US President Donald Trump and his Argentine counterpart Javier Milei at the UN General Assembly after the US Treasury pledged to “do what is needed” to support Argentina’s economy, which has faced a plunge in the peso, stocks and bonds. – Key figures at around 1550 GMT -New York – Dow: UP 0.2 percent at 46,461.99 pointsNew York – S&P 500: DOWN 0.1 percent at 6,684.53New York – Nasdaq Composite: DOWN 0.3 percent at 22,723.02 London – FTSE 100: FLAT at 9,223.32 (close)Paris – CAC 40: UP 0.5 percent at 7,872.02 (close)Frankfurt – DAX: UP 0.4 percent at 23,611.33 (close)Hong Kong – Hang Seng Index: DOWN 0.7 percent at 26,159.12 (close)Shanghai – Composite: DOWN 0.2 percent at 3,821.83 (close)Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: DOWN at $1.1791 from $1.1799 on MondayPound/dollar: DOWN at $1.3514 from $1.3515Dollar/yen: UP at 147.88 yen from 147.87 yenEuro/pound: DOWN at 87.25 pence from 87.30 penceWest Texas Intermediate: UP 2.4 percent at $63.76 per barrelBrent North Sea Crude: UP 2.0 percent at $67.91 per barrel

US President Donald Trump blasted the United Nations and Europe on his return to the world body Tuesday, warning that Western countries were “going to hell” because of migration and calling climate change a “con job.”In a blistering speech during his first UN General Assembly appearance since his White House comeback, Trump also accused the world body of failing to help him as he tried to broker a series of peace deals including in Gaza and Ukraine.”What is the purpose of the United Nations?” asked Trump in a wide-ranging speech lasting nearly an hour. “It has such tremendous potential but it’s not even coming close to living up to that.”Trump’s first speech to the UN back in 2018 saw fellow leaders laughing at the Republican, but this time his full-frontal attack on the global organization and US allies was received in near total silence.The 79-year-old’s litany of complaints even extended to a broken escalator and teleprompter at the New York headquarters of the UN, which he has repeatedly targeted during both of his presidential terms.”These are the two things I got from the United Nations: a bad escalator and a bad teleprompter,” he said.- ‘Going to hell’ -Trump began his speech by criticizing the UN for failing to get involved in what he claims are seven wars that he has ended, or in his failed efforts to end Russia’s invasion of Ukraine and Israel’s war in Gaza.”All they seem to do is write a really strongly worded letter,” he said. “It’s empty words, and empty words don’t solve war.”He then called recognition by a slate of Washington’s allies of a Palestinian state a “reward” to Hamas for “horrible atrocities ” in the armed group’s October 7, 2023 attack on Israel.Trump had more harsh words for European allies for failing to stop oil purchases from Russia. He criticized China and India on the same score — but Moscow itself escaped relatively lightly.His strongest language was reserved for blasting migration, one of the core political messages that has driven his two US election victories.Trump lambasted the UN for “funding an assault” on Western nations that he described as an “invasion.””Your countries are going to hell,” he told European leaders.The US president took a typically controversial stance on climate change too, calling it a “hoax” made up by “evil people.” He has pushed for oil drilling and rolled back environmental protections since returning to office.”Climate change — it’s the greatest con job ever perpetrated on the world,” said Trump. – ‘Wreaking havoc’ -Trump boasted of his tough crime policies, including sending troops to Washington and deadly US strikes on alleged Venezuelan drug smuggling boats.”To every terrorist thug smuggling poisonous drugs into the United States of America, please be warned that we will blow you out of existence,” Trump said.Trump’s second term has opened with a blaze of nationalist policies curbing cooperation with the rest of the world.He has moved to pull the United States out of the World Health Organization and the UN climate pact, severely curtailed US development assistance and wielded sanctions against foreign judges over rulings he sees as violating sovereignty.Opening the annual summit, UN Secretary-General Antonio Guterres warned that aid cuts led by the United States were “wreaking havoc” in the world.Brazilian President Luiz Inacio Lula da Silva meanwhile warned in his speech of “anti-democratic forces” targeting institutions after an alleged coup plot orchestrated by his predecessor, who has won backing from Trump.Trump however said he and Lula shared a brief hug at the UN and had agreed to meet next week.On Ukraine, Trump will meet President Volodymyr Zelensky for the second time since he sat down in Alaska with Russian President Vladimir Putin in August — a summit that broke Moscow’s isolation in the West but yielded no progress.Ahead of Trump’s speech, the US Secret Service said they had disrupted a plot to potentially disrupt telecommunications around the UN that involved “nation-state threat actors.”