- US stocks traded climbed on Monday as optimism around economic reopenings offset nationwide protests and new trade stresses between China and the US.
- A key measure of US manufacturing $4, inspiring confidence in an economic recovery.
- The Chinese government halted the import of American farm goods early Monday, further inflaming tensions and striking at a key component from the nations' phase-one trade deal.
Markets generally ignored protests against police brutality. Gun stocks surged following a weekend filled with violence, looting, and property damage.- $4.
US equities climbed on Monday as investors' hopes for a swift economic rebound offset nationwide protests and escalating tensions between the US and China.
Major indexes initially slumped after Chinese government officials ordered companies to halt imports of US farm products. The purchases were a key component in the two countries' phase-one trade deal. The import pause fueled new worries that the economic powers could resume their tit-for-tat trade conflict after a months-long hiatus.
Stocks turned positive later in the morning as investors continued to bet on a smooth reopening. US manufacturing data from the Institute of Supply Management $4 after a four-month plunge.
Here's where US indexes stood at the 4 p.m. ET market close on Monday:
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"We expect U.S.-China tensions to impact investor sentiment toward the region, which could dampen the otherwise positive economic impacts of China's reemergence from economic shutdown," Lauren Goodwin, economist and multi-asset portfolio strategist at New York Life Investments, said Monday.
Markets generally ignored the weekend's nationwide protests against police brutality. While COVID-19 cases have trended lower throughout the US in recent weeks, experts fear the demonstrations could fuel a second wave of infections.
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Gun stocks including Sturm Ruger, Smith & Wesson, and Axon $4. Such equities typically turn higher in the wake of civil unrest and fears of gun-control legislation.
Pfizer $4 after halting phase 3 breast-cancer treatment trials. The company said the therapy was "unlikely to show a statistically significant improvement" in survival rates.
$4 declined, falling as much as 3.4%, to $34.27. International benchmark $4 was markedly higher, climbing 9.5%, to $38.68 per barrel, at intraday highs.
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