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S&P 500, Nasdaq end higher, Dow down

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U.S. dollar index edges up, dollar up vs yen

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Nvidia ( NVDA ) shares bounce after recent losses

(Updates to 4:15 p.m. ET)

By Caroline Valetkevitch

NEW YORK, June 25 (Reuters) - Global stock indexes

mostly climbed on Tuesday, with shares of AI chipmaker Nvidia ( NVDA )

bouncing after a three-day sell-off, while the dollar gained

slightly against the Japanese yen.

Nvidia's ( NVDA ) stock ended up 6.8%. The Nasdaq jumped

more than 1%, also ending a three-day losing streak, while the

S&P 500 technology and communication services

sectors led gains among S&P 500 sectors.

Excitement over artificial intelligence has powered stocks

like Nvidia ( NVDA ) higher and helped to lift the U.S. stock market to

recent record highs, but it remains to be seen whether that will

continue, or for how long.

The chipmaker had rocketed higher to briefly become the

world's biggest company last week, but tumbled around 16% from

last Thursday's peak to this Monday's close.

"It's another day of fairly narrow equity markets," said

Chad Oviatt, director of investment management at The Huntington

National Bank in Akron, Ohio.

"The Mag 7 seem to be pushing things... and that's been a

theme all year," he said, referring to the Magnificent 7 group

of tech-related stocks, which include Nvidia ( NVDA ). "A lot of market

participants are just waiting for some additional broadening

out" of the market.

Investors are also gearing up for data on the personal

consumption expenditures price index on Friday, which could

provide further clues on the inflation picture and when the

Federal Reserve might begin cutting interest rates.

They also await snap elections in France starting at the

weekend and the first U.S. Presidential debate on Thursday.

The Dow Jones Industrial Average fell 299.05 points,

or 0.76%, to 39,112.16, the S&P 500 gained 21.43 points,

or 0.39%, to 5,469.30 and the Nasdaq Composite gained

220.84 points, or 1.26%, to 17,717.65.

After the closing bell, shares of FedEx ( FDX ) jumped more

than 15% following the release of its results and its forecast

for 2025 profit above analysts' estimates. The stock closed down

0.1% in the regular session.

MSCI's gauge of stocks across the globe rose

2.49 points, or 0.31%, to 803.77. The STOXX 600 index

fell 0.23%.

The U.S. dollar rose, bolstered in part by hawkish comments

from a Fed official.

Fed Governor Michelle Bowman repeated her view on Tuesday

that holding the policy rate steady "for some time" will likely

be enough to bring inflation under control. She also reiterated

her willingness to raise borrowing costs if needed.

The yen was keeping traders alert for any signs of

further intervention from Japanese authorities to prop up the

currency as it traded just above a two-month low of around 160

to the dollar.

It hit a record low against the euro of 171.49 on

Monday as pressure on the currency mounted thanks to interest

rates in Japan that remain far lower than in the United States

and Europe.

Against the Japanese yen on Tuesday, the dollar

strengthened 0.06% to 159.68.

The dollar index, which measures the greenback

against a basket of currencies, gained 0.11% at 105.63, with the

euro down 0.19% at $1.0712.

In Treasuries, the yield curve inversion between the

two-year and the 10-year notes deepened to more than 50 basis

points for the first time this year.

It partly reversed after strong demand at a two-year

auction.

Oil prices eased amid demand concerns after a slow start to

the U.S. summer driving season.

Brent futures for August settled down $1 at $85.01 a

barrel, while U.S. crude futures settled at $80.83, down

80 cents.

Spot gold was down 0.6% at $2,318.82 per ounce.