(New throughout, updates with U.S. markets)

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Shares dip after recent jump

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Nvidia ( NVDA ) results in focus

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Japanese bond auction sees tepid demand

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Dollar inches higher

By Chibuike Oguh and Samuel Indyk

NEW YORK, May 28 (Reuters) - Global shares were lower on

Wednesday, poised to snap two straight sessions of gains, with

markets bracing for Nvidia's ( NVDA ) results while oil prices

rose amid supply concerns after U.S. authorities barred Chevron ( CVX )

from exporting Venezuelan crude.

Market sentiment had been lifted by easing of trade tensions

between the U.S. and Europe, after President Donald Trump

delayed plans to impose 50% tariffs on European goods. Trump

said on Tuesday the European Union's move to set up trade

meetings was positive.

Investor attention is now focused on Nvidia's ( NVDA ) earnings,

which are due after markets close. The chipmaker is the last of

the "Magnificent 7" tech companies to report earnings this

season.

On Wall Street, all three indexes were trading lower led by

utilities, energy, materials and real estate stocks. Nvidia's ( NVDA )

shares were flat.

The Dow Jones Industrial Average fell 0.15% to

42,279.69, the S&P 500 fell 0.16% to 5,911.92 and the

Nasdaq Composite fell 0.15% to 19,171.32.

Europe's STOXX 600 was down 0.53%, having risen

over the last two days on the back of Trump's EU tariff pause.

Britain's FTSE fell 0.47%. MSCI's gauge of stocks across

the globe fell 0.24% to 879.01.

"There is renewed confidence that Nvidia ( NVDA ) can beat the

consensus estimates," said Chris Weston, head of research at

Pepperstone.

If Nvidia ( NVDA ) comes through with better-than-expected sales and

profit margins, "the rally is on," Weston added.

The Trump administration issued a new authorisation for

Chevron ( CVX ) that would let it keep assets in Venezuela but

not export oil or expand activities, Reuters reported on

Tuesday, citing sources.

Brent crude futures rose 1.11%, to $64.80 a barrel,

while U.S. West Texas Intermediate crude gained 1.36% to

stand at $61.72 a barrel.

U.S. Treasury yields were higher on the session, with the

yield on benchmark U.S. 10-year notes up 4.9 basis

points to 4.483% and the 30-year bond yield gaining

5.2 basis points to 4.9924%. Lacklustre demand for long-term

Japanese bonds had weighed on trading overnight.

The U.S. dollar gained against peers including the euro and

yen amid optimism about possible trade deals and following the

soft demand for Japanese 40-year bonds.

The dollar strengthened 0.21% to 144.62 against the Japanese

yen, but it weakened 0.25% to 0.825 against the Swiss

franc. The euro down 0.1% at $1.1315.

Gold prices rose as traders sought bargains following the

previous session's declines. Spot gold fell 0.1% to

$3,297.10 an ounce.