Former Commerce Department Deputy Director Chris Garcia discusses the China trade talks and stock market movements.
U.S. equity futures are pointing to a higher open to start the third quarter on Tuesday when wall Street begins trading.
Continue Reading Below
The three major futures indexes are indicating a gain of 0.5 percent.
The S&P 500 eked out a modest increase in the third quarter, helping stocks hold on to their biggest year-to-date gains in more than two decades and prolonging the longest bull market on record.
The broad stock-market index enters the fourth quarter with a 19 percent gain for the year—its best performance since 1997—after inching up 1.2 percent over the past three months.
The Reserve Bank of Australia followed the lead of the Federal Reserve and other central banks in cutting its key interest rate, to a record low 0.75 percent.
In Asia, Japan’s Nikkei stock index picked up 0.6 percent. Markets in Hong Kong and Shanghai were closed for a national day holiday.
U.S. stocks climbed to start the week as investors were encouraged by China’s announcement that its top trade negotiator will lead talks with the United States that are expected to take place next week.
The Trump administration also calmed some worries that it may limit U.S. investment in Chinese companies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26916.83 | +96.58 | +0.36% |
| SP500 | S&P 500 | 2976.74 | +14.95 | +0.50% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7999.338053 | +59.71 | +0.75% |
The S&P 500 climbed 0.5 percent, gaining 1.2 percent for the quarter. The Dow Jones Industrial Average rose 0.4 percent and the Nasdaq composite added 0.8 percent.
CLICK HERE TO READ MORE ON FOX BUSINESS
President Trump shocked markets in August when he said he’d raise tariffs on Chinese goods, and the announcement sent stocks and bond yields reeling. The S&P 500 dropped more than 6 percent in the weeks following July 26, when it set its last record. But stocks began climbing again in September as both sides made conciliatory moves to ease tensions.
The Associated Press contributed to this article.
