United States benchmark averages ended mixed on Monday (Tuesday AEST) as Wall Street geared up for a busy week of corporate earnings and economic data releases, while investors also closely monitored developments in trade negotiations.
During Monday's regular session, the Dow Jones Industrial Average advanced by 114.1 points, or 0.3%, to 40,224.6, the S&P 500 rose 0.1% to close at 5,528.8, recording its fifth consecutive day of gains, while the Nasdaq Composite dipped 16.8 points, or 0.1%, to end at 17,366.1.
In trade news, Treasury Secretary Scott Bessent provided limited insight regarding progress on a potential trade agreement with China, noting that the burden lay with Beijing.
“I believe that it’s up to China to de-escalate because they sell five times more to us than we sell to them. And so, these 125%, 145% tariffs are unsustainable.” Bessent said during an interview on CNBC’s Squawk Box.
This week concludes a volatile April for equity markets, marked by sharp swings following Trump's announcement and subsequent easing of sweeping new tariffs.
Attention is now turning to quarterly earnings reports from major technology companies, including Amazon, Apple, Meta Platforms, and Microsoft.
Investors will also be monitoring a slew of economic indicators, including Wednesday’s first-quarter gross domestic product figures, the Federal Reserve’s preferred inflation gauge, and Friday’s nonfarm payrolls report.
