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NASDAQ ENDS ON POSITIVE NOTE; S&P 500, DOW SLIP
Wall Street shares ended mixed on Monday in volatile trading, after a meltdown earlier in the session, with the Nasdaq composite .IXIC closing on a positive note. The S&P 500 .SPX and the Dow .DJI, however, ended lower.
Some investors found optimism in the willingness of some 50 countries to do tariff deals with the Trump administration. White House economic adviser Kevin Hassett earlier said Trump has talked to world leaders all weekend and will listen to proposals for great deals. On Monday, Trump said he's making "tremendous progress" on tariffs with many nations.
Market anxiety, however, remained high as Trump threatened to further increase tariffs on China on Monday, to an additional 50% duty on U.S. imports from China on Wednesday if the world's No. 2 economy did not withdraw the 34% tariffs it had imposed on U.S. products last week.
"On a constructive note, we're still off of the early morning lows and we're clearly significantly over-sold on just about every technical metric in the short term," said Michael James, managing director of equity trading, at Rosenblatt Securities in Los Angeles."
"But without any improvement in the tariff situation, which is the dominant focus of everyone's attention, it's going to be hard to expect that there will be much meaningful upside, outside of a potential over-sold bounce."
Here's Monday's closing snapshot:
(Gertrude Chavez-Dreyfuss)
FOR MONDAY'S EARLIER LIVE MARKETS POSTS:
VOLATILITY MAY ALSO BRING OPPORTUNITY - CLICK HERE
TARIFFS MAY DIM U.S. SOFTWARE INDUSTRY'S AI BOOST - CLICK HERE
FROM DULL TO DYNAMO: UTILITIES' SURPRISING GLOW-UP IN TODAY'S MARKET - CLICK HERE
WALL STREET CUTS LOSSES IN VOLATILE TRADING - CLICK HERE
S&P 500 INDEX POISED FOR FURTHER LOSSES; TRADERS EYE THE CHARTS - CLICK HERE
DON'T EXPECT THE FED TO COME TO THE RESCUE - CLICK HERE
WATCH THOSE RETAIL FLOWS - CLICK HERE
SELL EVERYTHING! - CLICK HERE
EUROPE BEFORE THE BELL: FUTURES TANK AS TRUMP STICKS TO HIS GUNS - CLICK HERE
TARIFF MEDICINE'S CRIPPLING SIDE EFFECTS - CLICK HERE