US stocks started US trading on a cautious note, with the S&P 500 and Nasdaq fluctuating around the flatline while the Dow Jones fell nearly 100 points. Traders were monitoring talks between the US and China, as officials from both countries met in London today, after Presidents Trump and Xi held a phone call last week and hopes were rekindled that trade tensions could ease.
Meanwhile, investors continued to await further signs on how the trade war is impacting the economy, with CPI and PPI due later this week to provide an update on inflationary pressures. Consumer staples and utilities were the worst-performing sectors while technology posted the biggest gain. On the corporate side, Nvidia (1.5%), Apple (0.6%), Meta (0.4%) and Alphabet (0.8%) rose while Microsoft and Amazon were little changed. Meanwhile, Tesla fell nearly 3.6% after analysts from Argus Research and Baird downgraded the stock.
Source: Trading Economics
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