· S&P 500 closes barely higher as investors balance pandemic with recovery
The S&P 500 closed barely higher, eking out a nominal gain on Monday as investors weighed new spikes in coronavirus infections with expectations that an economy crippled by mandated shutdowns will soon be re-opened for business.
Technology and healthcare shares provided the biggest lift to all three major U.S. stock indexes and led the tech-heavy Nasdaq to its sixth consecutive advance.
The Dow Jones Industrial Average .DJI fell 109.33 points, or 0.45%, to 24,221.99, the S&P 500 .SPX gained 0.39 points, or 0.01%, to 2,930.19 and the Nasdaq Composite .IXIC added 71.02 points, or 0.78%, to 9,192.34.
· Stock futures fall slightly as investors monitor efforts to reopen the economy
Stocks futures fell slightly in overnight trading on Monday as investors evaluated the latest attempts to reopen the economy.
Futures on Dow Jones Industrial Average dipped about 45 points, while the S&P 500 futures were trading near the flat line. The Nasdaq 100 futures were also little changed.
· European markets slip 0.7% amid concerns of a second wave of the coronavirus
European stocks closed in negative territory on Monday as the lifting of lockdowns continued throughout Europe despite fears of a second wave of coronavirus cases.
The pan-European Stoxx 600 ended the day provisionally 0.7% lower, reversing earlier gains. Basic resources dropped 2.5% to lead losses, with most sectors and major bourses ending in the red.
Spain’s IBEX closed around 0.75% lower, while France’s CAC 40 ended down 1.3%. Meanwhile, Italy’s FTSE MIB fell around 0.3% and Germany’s DAX ended the day down 0.7%. The U.K.’s FTSE 100 ended flat.
European investors continued to watch developments in the region with countries continuing to gradually lift lockdown restrictions.
· Asia stocks little changed; Chinese inflation data ahead
Asia stocks little changed; Chinese inflation data ahead
Stocks in Asia Pacific were little changed in Tuesday morning trade, as investors await the release of Chinese inflation data expected to be out later in the day.
In Japan, both the Nikkei 225 and Topix index were largely flat in early trade. South Korea’s Kospi dipped 0.38%.
Meanwhile, the S&P/ASX 200 in Australia slipped 0.67%.
Overall, the MSCI Asia ex-Japan index traded 0.3% lower.
On the economic data front, China’s inflation data for April is expected on Tuesday, with both the Consumer Price Index and Producer Price Index for the month set to be out around 9:30 a.m. HK/SIN.
Reference: CNBC, Reuters
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