• The Dow Jones Industrial Average .DJI rose 68.24 points, or 0.27 percent, to 24,899.41, the S&P 500 .SPX gained 2.41 points, or 0.09 percent, to 2,730.13 and the Nasdaq Composite .IXIC added 8.43 points, or 0.11 percent, to 7,411.32.
Wall Street ended a choppy session slightly higher on Monday as weakness in defensive stocks offset optimism following U.S. President Donald Trump’s conciliatory remarks toward China’s ZTE Corp that calmed the waters of U.S.-China trade tensions.
• Trump vowed on Sunday to help China-based communications firm ZTE (000063.SZ) “get back into business, fast” nearly a month after the Commerce Department implemented a ban on U.S. companies selling to the company.
Trump’s reversal arrived on the cusp of high-level talks between the world’s two largest economies, due to resume this week after back-and-forth rhetoric between the countries stoked fears that retaliatory tariffs could be imposed.
• “Hopefully they can strike some deals that are amenable to both countries but also keep the economies on the rails and not force a trade war,” said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
• Slight gains seen during the U.S. session failed to lift Asian markets on Tuesday, with stock indexes in the region hovering around the flat line in early trade.
• The Nikkei 225 edged up by 0.04 percent and the Topix advanced 0.17 percent. Insurers and banking stocks led the move higher in early morning trade, with Mitsubishi UFJ Group up 1.05 percent ahead of earnings due later. Steelmakers also advanced.
• Over in Seoul, the benchmark Kospi was off by 0.03 percent. Heavyweight Samsung Electronics was flat in the morning while chipmaker SK Hynix edged up by0.12 percent.
Reference: Reuters, CNBC