S&P 500, Nasdaq edge higher; tariff deadline in focus

Adjust Comment Print

Top White House economic adviser Larry Kudlow said on Friday that the deadline was still in place.

However, with still nothing concrete being announced, there are worries that the USA will enact a fresh round of tariffs in China on December 15.

Washington's next round of tariffs against Chinese goods are scheduled to take effect on December 15.

China's trade surplus for November stood at US$38.73 billion, compared with an expected US$46.30 billion surplus in the poll and a US$42.81 billion surplus recorded in October.

Dec 9 (Reuters) - The S&P 500 and Nasdaq indexes edged higher on Monday, with investors keeping a close watch on headlines around U.S. The central bank is expected to keep the rates unchanged at the monetary policy review.

"Markets are telling us that there are hopes for something positive to come up before the deadline", said Peter Cardillo, chief market economist at Spartan Capital Securities in NY. "However, we're having very good discussions with China". President Donald Trump wants China to commit to buying $40 to $50 billion worth of American farm goods per year, which is significantly higher than the $8.6 billion the country bought a year ago.

Among European stocks, Tullow Oil was the biggest loser on Monday.

Asia, however, managed to notch up small gains, with Japan's Nikkei .N225 adding 0.33 percent and MSCI's Asia-Pacific shares outside Japan .MIAPJ0000PUS up 0.15 percent.

Merkel voices ‘deep shame’ on first visit to Auschwitz
They walked through the camp's iron gate bearing the motto "Arbeit macht frei" (Work sets you free) and visited the barracks. The railway tracks getting into the constructing at Auschwitz the place prisoners had been first dropped at the camp.

Maruti Suzuki India Ltd will be in focus as the company, after nine straight months of falling production, built more vehicles in November than a year earlier, following the mild sales recovery seen in the festive month of October.

The Dow Jones Industrial Average fell 28.01 points, or 0.10%, at the open to 27,987.05.

China's exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing's stimulus steps are helping to stoke demand.

Asian markets were mixed Monday as investors struggled to track a rally on Wall Street that was fuelled by a forecast-busting USA jobs report, while there was little inspiration from tepid Chinese trade data.

It's unclear how the two nations will be able to iron out a deal if the tit for tat trade tariffs continue.

Brent futures were down 44 cents, or 0.68%, at $63.95 per barrel by 0935 GMT, after gaining about 3% last week on news that OPEC and its allies would deepen output cuts.

The British pound rose to a new seven-month high of $1.3180 GBP=D3 as investors raised their bets on a Conservative Party victory and majority in parliament in Thursday's general election.

Comments