⁍ Technology stocks fell after a run of recent gains, while crude oil prices jumped.
⁍ On Wall Street, the Dow industrials .DJI touched a more than five-month high.
⁍ The Nasdaq .IXIC fell as much as 1.5%, after hitting a record high last week.
– The Dow hit a five-month high on Monday, though the Nasdaq and S&P 500 fell, as tensions between Washington and Beijing kept investors on edge, Reuters reports. The Dow rose 357 points, or 1.3%, to 27,791, while the S&P 500 gained 9 points, or 0.2%, to 3,360 and the Nasdaq fell as much as 1.5%, after hitting a record high last week. Tension between the United States and China ahead of scheduled trade talks at the weekend to review an agreement signed in January was blamed for the lack of market direction. Talks in Washington over a US fiscal stimulus package for pandemic-stricken businesses and workers caused further investor uncertainty. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin on Sunday said they were open to resuming negotiations. President Trump has sought to take matters into his own hands by signing executive orders and memorandums aimed, among other things, at continuing unemployment benefits. The figure he put forward is less than the benefit passed earlier in the health crisis, however. The Dow Jones Industrial Average rose 357.96 points, or 1.3%, to 27,791, the S&P 500 gained 9.19 points, or 0.2%, to 3,360, and the Nasdaq fell as much as 1.5%, after hitting a record high last week. “Part of the reason the S&P 500 has been held back is we’re starting to see yet another rotation to value and away from growth,” says Paul Nolte at Kingsview Investment Management in Chicago. “That tends to hold back the S&P because it’s so dominated by big tech.”
Source: https://www.reuters.com/article/us-global-markets/world-stocks-tick-up-as-china-industrial-data-offsets-trade-woes-oil-rises-idUSKCN25601X