TOKYO — Global shares were trading mixed Monday, as markets looked ahead to a possible move by the U.S. Federal Reserve later this week to cut interest rates.

France’s CAC 40 jumped 1.2% in early trading to 7,915.30, while the German DAX gained 0.6% to 23,838.03. Britain’s FTSE 100 was little changed, inching down less than 0.1% to 9,282.51. U.S.

U.S. shares were set to drift higher with Dow futures gaining 0.2% to 46,287.00. S&P 500 futures rose nearly 0.1% to 6,650.50.

In Asia, Hong Kong’s Hang Seng added 0.2% to 26,446.56. The Shanghai Composite edged down 0.3% to 3,860.50.

Worries are simmering about China’s economy, as analysts say the data for August aren’t strong enough to reflect ongoing dynamic growth, especially given the damage from U.S. President Donald Trump’s tariff policies.

“China’s economy continued to slide in August, with all key activity readings falling short of market forecasts once more,” Lynn Song of ING Economics said in a report.

“Given the slowdown of the past few months, we expect that there’s a strong case for additional short-term stimulus efforts,”

China’s retail sales rose 3.4%, a 12-month low that was down from 5.7% in July and 6.8% in June. Retail sales rose 3.4%, the slowest pace since last November.

“The underlying flow is shifting. For years, Beijing leaned on exports as the carry trade that kept growth rolling even as property cracked. But with Trump’s tariffs slicing through supply chains, that leg of the trade is gone,” said Stephen Innes, managing partner at SPI Asset Management.

Australia’s S&P/ASX 200 lost 0.1% to 8,853.00, while South Korea’s Kospi gained 0.4% to 3,407.31. Stock trading was closed Monday for a national holiday in Japan.

Expectations are growing that the U.S. Federal Reserve will cut its main interest rate for the first time this year at its meeting this week. That means that, if the interest rate cut doesn’t happen, the market could drop in disappointment.

In energy trading, benchmark U.S. crude rose 31 cents to $63.00 a barrel. Brent crude, the international standard, added 27 cents to $67.26 a barrel.

In currency trading, the U.S. dollar inched up to 147.67 Japanese yen from 147.65 yen. The euro cost $1.1734, little changed from $1.1732.

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Associated Press writer Ken Moritsugu in Beijing contributed to this report.

Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama