S&P 500 Index Futures Market News and Commentary
The S&P 500 Index ($SPX) on Monday closed down -0.20%, the Dow Jones Industrials Index ($DOWI) closed up +0.04%, and the Nasdaq 100 Index ($IUXX) closed down -0.17%.
U.S. stock indexes moved mostly lower Monday on reduced trade optimism along with weaker-than-expected Chinese economic data.
Waning optimism that the U.S. and China will soon agree to a trade deal weighed on stock indexes Monday. Comments on Saturday from President Trump reduced the prospects for a quick trade deal when he said that reports about how much the U.S. was ready to roll back tariffs on China were "incorrect."
Escalation of violent protests in Hong Kong over the weekend were also bearish for stocks on concern the rising tensions in Hong Kong will also undermine U.S./China trade talks.
Technology stocks moved lower Monday, led by a -2.4% decline in Qualcomm, after it was downgraded to "Equal-Weight" from "Overweight" at Morgan Stanley.
Weakness in bank stocks on Monday also... Read more