Global stocks were mixed Monday as markets digested weak Chinese data and awaited key earnings amid worries over inflation and its impact on corporate profits.
All three major US indices began the session in the red, but both the S&P 500 and Nasdaq bounced back, a sign investors remain somewhat sanguine about results later this week from Procter & Gamble, Netflix, Tesla and others following blowout earnings last week from large banks.
"I think there's a little bit more optimism about third-quarter earnings season after last week, and that's buoying the market above some of the economic data," said Ross Mayfield, investment strategy analyst at Baird.
Earlier, European bourses dropped and Asian markets were mixed as investors tracked weak Chinese data.
China's economic growth eased to 4.9 percent in July-September, slower than forecasts, as a crackdown on its property sector and an energy crisis began to bite.
"Investors were a bit cautious with earnings season ramping up, while ongoing concerns about inflation also held the markets back a touch," said ThinkMarkets analyst Fawad Razaqzada.
"Meanwhile, more signs emerged that growth is weakening at the world's second largest economy, China," he added.
Bitcoin held above $60,000 ahead of the debut Tuesday of a new security on the New York Stock Exchange linked to futures of the cryptocurrency.
ProShares, a leader in exchange traded funds, a type of investment linked to an index, will unveil the bitcoin futures-linked vehicle under the ticker "BITO," the company said Monday.
The Securities and Exchange Committee has not blocked the launch of the ProShares fund. However, the agency urged investors to "carefully weigh the potential risk and benefits" in a recent statement on Twitter.
Traders on Monday assessed weekend remarks from European Central Bank chief Christine Lagarde and Bank of England (BoE) boss Andrew Bailey, against a backdrop of simmering inflationary pressures.
Lagarde stated that high inflation was "largely transitory", indicating the ECB's supportive monetary policy would continue.
In contrast, Bailey warned that the BoE might "have to act" to curb rising inflation, signaling its main interest rate might rise soon from its record-low 0.1 percent.
"The difference between two central bank governors could hardly be any more pronounced," noted Commerzbank analyst Ulrich Leuchtmann.
Rising interest rates increase borrowing costs for companies, which can weigh on their share prices.
Some central banks -- including in South Korea and New Zealand -- have recently hiked borrowing costs. The US Federal Reserve is expected to begin paring its stimulus before the end of the year.
New York - Dow: DOWN 0.1 percent at 35,258.61 (close)
New York - S&P 500: UP 0.3 percent at 4,486.46 (close)
New York - Nasdaq: UP 0.8 percent at 15,021.81 (close)
London - FTSE 100: DOWN 0.4 percent at 7,203.83 (close)
Frankfurt - DAX: DOWN 0.7 percent at 15,474.47 (close)
Paris - CAC 40: DOWN 0.8 percent at 6,673.10 (close)
EURO STOXX 50: DOWN 0.8 percent at 4,151.40 (close)
Tokyo - Nikkei 225: DOWN 0.2 percent at 29,025.46 (close)
Hong Kong - Hang Seng Index: UP 0.3 percent at 25,409.75 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,568.14 (close)
Euro/dollar: UP at $1.1613 from $1.1601 at 2100 GMT
Pound/dollar: DOWN at $1.3728 from $1.3751
Euro/pound: UP at 84.56 pence from 84.37 pence
Dollar/yen: UP at 114.29 yen from 114.22 yen
Brent North Sea crude: DOWN 0.6 percent at $84.33 per barrel
West Texas Intermediate: UP 0.2 percent at $82.44 per barrel