· The S&P 500 hit a record high on Monday, while the Nasdaq fell just short of its lifetime high touched in late July as a more civil tone between the United States and China lifted hopes for a possible trade deal and investors looked toward a Federal Reserve rate cut later this week.
The Dow Jones Industrial Average .DJI rose 132.25 points, or 0.49%, to 27,090.31, the S&P 500 .SPX gained 16.79 points, or 0.56%, to 3,039.34 and the Nasdaq Composite .IXIC added 82.87 points, or 1.01%, to 8,325.99.
· European stocks closed higher on Monday after U.S. President Donald Trump said he expects to sign a portion of a trade deal with China ahead of schedule.
Closer to home, the EU granted the U.K. a three-month Brexit extension, and corporate earnings remained on traders’ radars.
The pan-European Stoxx 600 ended the session 0.3% higher, with trade-sensitive automotive stocks rising 1.9% to lead gains, while banks slipped 0.4% following disappointing earnings from HSBC.
· Shares in Asia traded higher on Tuesday as investors monitor further developments on the U.S.-China trade front with the two economic powerhouses working toward a deal.
In Japan, the Nikkei 225 rose 0.42% in early trade while the Topix gained 0.65%. Shares of airliner ANA, however, fell more than 1% following a Nikkei report that the firm is expected to report a more than 20%drop in profit.
South Korea’s Kospi also added 0.31%. Meanwhile, the S&P/ASX 200 in Australia rose about 0.2%, with the sectors trading mixed.
Investors will continue to watch for developments in U.S.-China trade. The Office of the U.S. Trade Representative said Monday that Washington will consider extending certain tariff exclusions on $34 billion worth of imports from China. The USTR said last week that China and the U.S. are close to finalizing a phase one deal.
Reference: CNBC, Reuters
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