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Daw, S&P 500 steps cautiously higher as Wall Street hopes for central bank incentives



U.S. stocks have moved cautiously higher on Monday, but Nasdaq is struggling to stay in positive territory as investors await progress from the European Central Bank and the Federal Monetary Policy, with both central banks expected to launch easier initiatives money in the coming days.

How are the main indicators met?

Dow Jones Industrial Intermediate

DJIA, + 0.33%

rose 60 points, or 0.2%, to 26 859, while the S&P 500 index

SPX, + 0.18%

earned 4 points, or 0.1%, to 2 983. The Nasdaq Composite Index

COMP, + 0.03%

fell 4 points, or less than 0.1%, to 8 098, turning negative after a slight increase early Monday.

Last week, the Dow gained 1.5%, while the S&P advanced 1.8% and the Nasdaq reported a 1.8% weekly advance. Profits left the S&P 500 1.6% below its highest closing high of 3025.86 set on July 26, while the Dow closed on Friday with 2.1% of its record close of 27 359.16 set for July 15. The Nasdaq closed last week with 2.7% of its continuous close of 8 330.21, set for July 26.

What is driving the market?

US stocks tried to prolong last week's rally, fueled by trade optimism after Beijing and Washington confirmed plans to resume talks next month as investors await expected stimulus from global central banks.

"In the broader market, risk appetite returned on Monday, with Asian stock exchanges sea of ​​greenery, despite some disappointing trading data outside China over the weekend," market analysts wrote in XM. lower than expected, Chinese authorities were in a hurry to calm the markets, suggesting more monetary stimulus to mitigate the tariff-hit economy. "

Data shows that China's global exports fell 3% to $ 214.8 billion in August, while imports rose 1.7% to 180m

German exports unexpectedly rose in July, offering a rare spot after economic data slumped in Europe's largest economy.

Last week's renewed trade optimism appears to have increased to Monday, following a weekend report. that Chinese representatives have offered to buy agricultural goods in exchange for discounts related to Huawei Technologies Co. or a delay in tariffs due to take effect in October and December.

U.S. The finance minister said on Fox Business News on Monday that China's decision to meet next month's talks is a sign of "conscientiousness", but that the administration is ready to continue its tariff policy unless a good deal can be reached for US companies and workers.

Meanwhile, the European Central Bank is expected to further cut interest rates by pushing its deposit rate even further into negative territory when politicians meet on Thursday. The ECB may also move to a restart of the bond repurchase program, which ended in December, as it responds to a sluggish economy and stubbornly below-target inflation.

The defining policies of the Federal Reserve meet next week, with the latest figures, including the weaker ones than last Friday; from the expected reporting of job reports, underlining the expectation that it will move to a reduction in its core lending rate.

Read: Central bankers already know: Hang or hang separately

In the economic calendar, July consumer credit data is due at 3:00 pm. Eastern Time Zone. Later this week, investors will look at the producer price index in August, followed by the consumer price index on Thursday and August retail sales data on Friday.

Economic Review: US consumers are far from spent – and this is a lifesaver for the volatile economy

Which stocks are in focus?

Dow Component Shares AT&T Inc .

T, + 3.99%

rallied 4.3% early Monday after shareholder Elliott Management sent a letter to the company's board outlining what it describes as an "opportunity for value creation, "which says it can increase the telecom giant's stock price by 65%.

Shares in Alcoa Corp .

AA, + 3.87%

were in focus after a bauxite and aluminum manufacturer announced a restructuring that would "remove the business unit structure and consolidate sales, procurement and other commercial opportunities in enterprise level. , "According to a statement. The company's shares rose 0.8% on Monday morning.

JetBlue Airways Corp .

JBLU, + 0.99%

opened an $ 125 million accelerated share repurchase agreement (ASR) with Barclays Bank on Monday, and shares fell 0.1% before trading began.

Shares of Amgen Inc .

AMGN, -2.77%

were down 2.5% after the biotechnology firm released the results of a Phase 1 study on a new cancer drug that disappointed investors.

Shares of Federal National Mortgage Association [19659030] FNMA, + 23,25%

– known as Fannie Mae – and Freddie Mac

FMCC, + 22 , 18%

collected more than 26% every Monday morning, after Treasury Secretary Stephen Mnuchin told Fox Business that an agreement between the Treasury and the Federal Housing Financing Agency is soon ending a policy requiring the company's profits to be withheld from the federal treasury.

How are the other markets traded?

The yield on the 10-year note of US Treasury

TMUBMUSD10Y, + 4,54%

increased by 6,3 basis points to 1,62%.

In the commodity markets the price of crude oil

CLV19, + 1.88%

added 1.7% to about $ 57.50 a barrel while gold prices

GCZ19, + 0.00%

rose 0.2% to about $ 1519 an ounce. The US dollar

DXY, -0.20% ,

meanwhile, with a margin lower than the basket from its main trading partners.

In Asia, stocks are closed mostly higher; Chinese CSI 300

000300, + 0,62%

increased by 0,6%, the Japanese Nikkei 225

NIK, + 0.56%

advanced 0.6%, while the Hong Kong Hang Seng Index

HSI, -0.04%

fell less than 0.1%.

In Europe, stocks were mixed, with the Stoxx Europe 600

SXXP, -0.38%

edge down 0.2%.


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