All of the major U.S. indices are struggling to find a direction in early trading this morning following a week that pushed U.S. stocks into near record levels. If the S&P500 can find a way to turn positive today it would mark the sixth straight positive session - the longest streak for the index since February.
U.S stocks have opened this holiday shortened week on a down note with the global trade story continuing to worry investors. In early trading, all of the major U.S indices are firmly in negative territory. Both the S&P500 and Nasdaq have been in positive territory for five consecutive months while the Dow has gained for two straight months.
US stocks finished with back-to-back positive sessions last week which ultimately pushed the Dow and S&P500 into the green after a turbulent start to the week. Concerns over an economic and currency crisis in Turkey had investors on edge most of the week, but fears subsided Thursday as news came that the US and China had scheduled renewed trade talks.
US stocks logged their 5th consecutive week of gains last week as investors cheered a full week of positive earnings results. The S&P500 advanced 0.8% while the Nasdaq added 1.0% and the Dow Jones Industrial Average finished mostly flat.
US stocks are being pushed down Monday following a week which saw mixed results for the broad benchmarks. The Dow Jones Industrial Average advanced 1.6% last week while the S&P500 added 0.6% as investors celebrated mostly positive Q2 earnings results. The tech-heavy NASDAQ was the lone laggard last week, as disappointing results from Facebook Inc.
Investors have a lot to keep their eyes on as the week kicks off with ongoing geopolitical worries and a flurry of earnings reports scheduled. U.S. stocks are relatively flat in early trading this morning. Both the Dow and S&P500 will be trying to improve upon two negative sessions in a row while the Nasdaq looks to avoid a fourth straight decline.
U.S. stocks have opened the trading week on a flat note as we head into Q2 earnings season and a busy week of geopolitical news that will draw the attention of investors. The markets were on an upswing last week and the S&P500 is on track to hitting its peak from early February and the Nasdaq could hit its third record in as many sessions.
Encouraging economic news is overshadowing persisting trade war fears and triggering gains in U.S. stocks today. In early trading, the Dow is leading the major U.S. benchmarks up over 300 points (+1.25%) followed closely by the S&P500 which is up +0.75%.
The holiday shortened week is off to a negative start with U.S. stocks trading in the red. The U.S. markets will be closed on Wednesday in recognition of the Fourth of July holiday which will more than likely produce a low volume week. In early trading, both the Dow and S&P500 are down modestly while the Nasdaq is trading nearly unchanged.
Stocks are getting pummeled to start the week, as worries over global trade tensions continue to heat up. The selloff is broad-based with losses coming across all major US benchmarks Monday. The Dow is down over 300 points or -1.5% while the S&P500 and Nasdaq are also down -1.5% and -2% respectively.