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.
U.S. stocks are on a downward trend this morning on continued fears of the trade war between the U.S. and China. Last week, the equity markets had a lot to chew on with the Federal Reserve raising interest rates for the second time in 2018, a historic summit between President Donald Trump and North Korea’s Kim Jong Un and the ongoing trade feud with China.
The US stock market logged another solid week last week as investors focused on a positive string of economic data and improving fundamentals. Gains were broad based with the S&P500 and Nasdaq advancing over 1% while the blue-chip Dow surged nearly 2.8% on the week – its best weekly gain since early March.
A strong jobs report on Friday is fueling a rally to kick off the trading week. Friday’s jobs data revealed that the U.S. economy is healthier than expected. 223,000 new jobs were created in May while the unemployment rate declined to an 18 year low of 3.8%.
US equities are soaring to begin a new week as worries over the US-China trade war subsided. Over the weekend, US Treasury Secretary Steven Mnuchin remarked that the White House would delay implementing proposed tariffs on Chinese goods as the two countries worked out the details on a new deal.
Easing tensions over the trade talks between U.S. and China have investors responding positively to the equity markets. Stocks are up today following a strong performance last week. If this trend continues, a positive close today would be the eighth straight advance for the Dow. Last week, the Dow rose 2.3%, the S&P500 was up 2.4% and the Nasdaq climbed 2.7%.
Rising oil prices are giving stocks a lift this morning as the markets kick off a new week of trading. However, uncertainty still remains on several geopolitical fronts which could continue to be a headwind for equities as the week continues. Last week was pretty rocky for U.S. stocks.