World shares are mixed and oil prices slip after worries over stagflation pull US stocks lower

BANGKOK (AP) — Shares were mixed in Europe and Asia on Monday after U.S. stocks edged back from their all-time high following a weaker than expected report on the U.S. economy.

In early European trading, Germany's DAX was nearly unchanged at 26,438.04, while the CAC 40 in Paris lost 0.1% to 8,628.32.

The future for the S&P 500 edged 0.1% higher, while that for the Dow Jones Industrial Average slipped 0.2%.

Tokyo's Nikkei 225 index gained 0.7% to 69,220.25 after the Japanese government reported the economy grew slightly faster than forecast in the April-June quarter, expanding at a 1.1% annual pace even as private spending and investment stayed flat and export growth slowed. In quarterly terms, the economy grew 0.3% in the second quarter of the year.

In Hong Kong, the Hang Seng picked up 1.3% to 25,453.23, while the Shanghai Composite index rose 1.4% to 3,982.65.

Taiwan's Taiex gained 0.1%, while the Sensex in India fell 0.3%.

On Friday, The S&P 500 fell 0.2% following a report that showed shoppers spent less at U.S. retailers last month. Such data could help the Federal Reserve keep interest rates low, which is positive for investors. But it also suggests growth may be slowing at a time when inflation is still high.

The Fed has no good tool to fix both a stagnating economy and high inflation at the same time, which is why what's called "stagflation" is seen as a worst-case scenario.