US Stocks Mixed Ahead of G20 in Japan

Wall Street struggled for direction on Monday as gains by technology companies were blunted by losses in the healthcare sector, while investors looked to U.S. President Donald Trump’s meeting with his Chinese counterpart Xi Jinping at the G20 summit later this week.

The Dow held on to a small advance, while the Nasdaq was slightly lower. The bellwether S&P 500 was down nominally, although still hovering within a hair’s breadth of its all-time closing high reached last Thursday.

Trade-sensitive industrials, led by Boeing Co, kept the blue-chip Dow in the black.

U.S.-China trade tensions, having grown from simmer to boil in recent months, have market participants eyeing the leaders of the world’s two largest economies and their expected meeting at the upcoming Group of 20 summit due to convene in Japan on Friday.

“Last week we had a big move to the upside in anticipation of what the Fed would do,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. “Since then the market’s biding its time until the G20 meeting.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza