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US markets start the week in the green zone amid declining volumes

2018-06-11 04:08 pm | Resource: NEWS | No Views : 168

US markets open on Monday on slight gains, with the Dow Jones and the Standard & Poor's 500 Index reaching their best levels of the day within three months. The interest in buying remained low, limiting the upward trend of key indicators.

Currently, the major averages are away from session highs but remain in the positive territory. The Dow Jones was up 12.67 points, or 0.1 percent, at 25,338.20. The Nasdaq Composite Index was up 5.89 points, or 0.1 percent, at 7651.40. The Standard & Poor's 500 Index  was up 5.05 points, or 0.2 percent, at 2,784.08.

Traders seem reluctant to take more important steps ahead of the historic summit between President Donald Trump and North Korean leader Kim Jong-un on Tuesday.

Before the meeting, Foreign Secretary Mike Pompeo noted that the United States was ready to provide "unique" security assurances to North Korea in return for a complete, verifiable and irreversible denuclearization of Korea.

In a statement last Thursday, Trump expressed some optimism about his meeting with Kim, but stressed that he was willing to abandon negotiations.

Trump said his administration had stopped using the term "maximum pressure" for North Korea and suggested that the success of the negotiations could determine whether to use words after the meeting.

In addition to the Trump meeting with Kim, traders are also looking to announce monetary policy from the Federal Reserve and the European Central Bank.

The Federal Reserve is widely expected to raise interest rates by 25 basis points, while the ECB has indicated that its meeting will be used to discuss the end of the bond purchase program.

Reports on consumer and producer inflation, retail sales and industrial production are likely to attract some attention this week.

At the same time, trade concerns may continue to rise after Trump retreated from the G7 joint statement over the weekend.

Trump continued to push US allies to trade after leaving the G7 summit early to attend the meeting with Kim in Singapore.

"We can not allow our friends or our enemies to take advantage of us on trade anymore.

Transport, steel and natural gas shares gained some strength in morning trade as utility companies moved into a downward trend.

In foreign trade, equity markets in Asia and the Pacific experienced mixed performance during trading on Monday. Japan's Nikkei 225 rose 0.5 percent, while the Shanghai Composite Index fell 0.5 percent.

At the same time, the major European markets moved towards the upside during the day. While the FTSE 100 in the UK rose 0.6 percent, France's CAC 40 and Germany's DAX both gained 0.4 percent.

In the bond market, Treasuries trailed back almost immediately after the close of the previous session. As a result, the yield on the 10-year benchmark, which is moving up by 3.1 basis points, rose to 2.968%.

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