US Stocks Gain, Shrugging Off Tariff Rancor: Markets Wrap


U.S. equities pushed higher, shrugging off the weekend’s trade drama, while European stocks rose as investors eased into a hectic week: three major central banks are to set interest rates, President Donald Trump meets North Korea’s leader and Brexit returns to the fore.

The S&P 500 Index rose in Monday trading, with almost all sectors gaining, while the dollar climbed with Treasury yields. Texas crude and gold both advanced.

In Europe, the mood was cautiously risk-on, with the Stoxx Europe 600 Index rising for the first time in five days and core European bonds slipping. The euro strengthened and Italian bonds and stocks jumped after the country’s new finance minister confirmed his commitment to the common currency. The pound fell in what could be a key week for Theresa May’s Brexit strategy, and as data showed a slump in U.K. manufacturing.

Investors are steeling themselves for geopolitical noise as the week picks up, with Trump saying he feels “very good” about the summit with Kim Jong Un in Singapore. After that, traders will switch their focus to the views of the world’s biggest central banks. The Federal Reserve is expected to raise interest rates Wednesday, while European Central Bank officials are poised to hold formal talks on ending its bond-buying program Thursday. The Bank of Japan meets Friday, with no change to policy expected.



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