U.S. stock rally pauses in thin trading amid U.S. holiday

​The rally in global shares paused Tuesday in quiet trading as U.S. markets were shut for a holiday.

Europe's benchmark Stoxx 600 edged higher on trading volume that was a quarter lower than the 30-day average. Real estate shares climbed, while J Sainsbury Plc fell as the U.K. grocer's unchanged pretax profit forecast underwhelmed analysts. 

In Asia, Japan's Nikkei 225 fell from its highest level since 1990. Pakistan's rupee rallied against the dollar on optimism the International Monetary Fund's bailout will boost demand for the nation's assets. 

There's no cash trading in U.S. equities and Treasuries due to the Independence Day holiday. Futures on the S&P 500 and the Nasdaq 100 were little changed.