S&P 500 inches higher as traders await Big Tech earnings, progress on trade deals
S&P 500 moved higher Monday ahead of a packed week for earnings and economic data. Wall Street is also awaiting any progress on trade deal negotiations.
The S&P 500 gained 0.1%, while the Nasdaq Composite traded down 0.1%. The Dow Jones Industrial Average also jumped 179 points, or 0.4%.
On Monday, Treasury Secretary Scott Bessent offered little clarity on the direction of reaching a possible trade agreement with China, but said that the onus was not on the United States. On the positive side, however, Bessent said that they were making progress on other trade proposals, suggesting a deal with India would be “one of the first” to come.
“I believe that it’s up to China to de-escalate, because they sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable,” Bessent said on CNBC’s “Squawk Box.”
His comments come after President Donald Trump said last week that discussions with China were underway, refuting China’s claims of no trade talks between the two countries.
Source : CNBC
