US Stocks Wobble Amid US-China Tensions
US stocks kicked off the US on a cautious tone, with both the S&P 500 and the Nasdaq swinging around the flatline while the Dow Jones declined nearly 100 points. Traders monitor talks between the US and China, as officials from the two countries are meeting in London today, after President Trump and President Xi had a phone call last week and hopes reemerge that trade tensions could ease.
Meanwhile, investors continue to await for further signs on how the trade war is impacting the economy, with both CPI and PPI due this week set to provide an update on inflationary pressures. Consumer discretionary and utilities were the worst performing sectors while tech booked the biggest gains. On the corporate front, shares of Nvidia (1.5%), Apple (0.6%), Meta (0.4%) and Alphabet (0.8%) were higher while Microsoft and Amazon were little changed. Meanwhile, Tesla lost nearly 3.6% after both Argus Research and Baird analysts have downgraded the stock.
Source: Trading Economics
