· Stocks rose in choppy trading on Monday as investors pored through the latest U.S.-China trade developments and equities added to a massive rally in the prior trading session.
The Dow Jones Industrial Average climbed 98.18 points to 23,531.35 after briefly falling 131.57 points. At is high of the day, the 30-stock Dow rose 254.58 points. The S&P 500 gained 0.7 percent to close at 2,549.69, led by a 2.36 percent gain in the consumer discretionary sector. The Nasdaq Composite advanced 1.26 percent to 6,823.47, posting its seventh positive session in eight, as Amazon shares rose more than 3 percent.
"The January effect will likely continue, but the market will be erratic as the trade talks continue," said Peter Cardillo, chief market economist at Spartan Capital Securities. "The real key is trade. Any sign that trade talks are going well could send the market to the upside."
"It would be premature … to consider that the volatility in the stock market will disappear and that a sustained new uptrend has begun," Bruce Bittles, chief investment strategist at Baird, said in a note.
"Fourth-quarter earnings reports will soon be forthcoming accompanied by important guidance figures for 2019," Bittles said. "Additionally, uncertainty lingers over trade talks with China as does the impact of the slowdown in global growth on the domestic economy."
· Stocks in Asia mostly traded higher on Tuesday morning as investors wait for the second day of U.S.-China trade talks to kick off later in the day.
Japan's Nikkei 225 rose more than 0.93 percent in early trade while the Topix index gained 0.7 percent, with most sectors seeing gains. Shares of automaker Nissan slipped around 0.3 percent despite broadly positive momentum in the sector. The company's former Chairman Carlos Ghosn is set to make his first public appearance in seven weeks at a Tokyo court, following his arrest in November last year on allegations of financial misconduct.
Over in South Korea, the Kospi was slightly lower. Shares of industry heavyweight Samsung Electronics slipped 0.77 percent after the company announced estimated fourth quarter earnings which fell far short of analyst expectations.
Reference: CNBC
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