U.S-China trade relations continue to fuel volatile action on Wall Street
The U.S. stock market looks set for another day of volatile trading, with futures on the Dow Jones Industrial Average (DJI) up triple digits at last check. Investor sentiment appears to be getting a boost from the Trump administration, which attempted over the weekend to ease trade war fears that sent stocks spiraling last Friday. While Treasury Secretary Steve Mnuchin on CBS' "Face the Nation" yesterday said he doesn't "expect there will be a trade war" between the U.S. and China, President Donald Trump wrote on Twitter that he sees a "Great future for both countries!" -- though more recently, he tweeted about "STUPID TRADE - going on for years!"
Continue reading for more on today's market, including:
Merger buzz boosted bearish betting on Chicago Bridge & Iron stock.This beverage stock is flashing "buy."Insider trading accusations buoyed this blockchain stock.Plus, a bold bull note for GM; an $8.7 billion healthcare buyout; and Russian ETFs sink on newly imposed sanctions.
Stocks in Asia kicked off the week on a high note today, shrugging off trade war concerns between the U.S. and China. China's Shanghai Composite finished 0.3% higher as investors await Chinese President Xi Jinping's speech tomorrow at Boao Forum, where he's expected to announce market reforms. Japan's Nikkei gained 0.5% amid a softening yen, while South Korea's Kospi added 0.6% thanks to a 1.7% rise from Samsung Electronics. Hong Kong's Hang Seng tacked on 1.3% on the strength of rebounding tech stocks, shaking off a 50.4% nose-dive from Moscow-headquartered aluminum producer Rusal amid fresh U.S. sanctions against Russia.
Markets in Europe are mostly higher at midday. The French CAC 40 has gained 0.2% and Germany's DAX is up 0.5% at last check, thanks to a 2.4% bump from Deutsche Bank, which appointed Christian Sewing as its new chief executive officer. London's FTSE 100 is down 0.1% as commodity giant Glencore, a stakeholder in Rusal, drops 4.5%.