U.S. stocks opened modestly higher Monday as Boeing shares weighed on averages but Marriott International stock buoyed investor sentiment after announcing it would open 1,700 hotels in the next three years.
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Shares of chip makers were giving the market a boost, too, on optimism that the extension to June of the U.S.-China trade talks signals prospects for a deal being reached.
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Merger activity also helped the markets as officials of Germany’s two biggest banks, Commerzbank and Deutsche Bank, discussed a combination.
Fidelity National Information Services and Worldpay agreed to merge in a $35 million deal in the growing payments sector.
Investors were trading cautiously ahead of the Federal Reserve’s rate-setting meeting on Wednesday. The powerful panel of the U.S. central bank is expected to reaffirm its intention to not raise rates.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| BA | BOEING COMPANY | 369.68 | -9.31 | -2.46% |
| MAR | MARRIOTT INTERNATIONAL INC. | 125.45 | +3.13 | +2.56% |
| AMD | ADVANCED MICRO DEVICES INC. | 23.55 | +0.26 | +1.12% |
| NVDA | NVIDIA CORPORATION | 172.61 | +2.80 | +1.65% |
Boeing shares were weighed down by inquiries from the Transportation and Justice Departments over the certification of its Max jets.
Asian equities closed higher, with Japan’s Nikkei 225 adding 0.62 percent, Hong Kong’s Hang Seng rising 1.37 percent and the Shanghai Composite surging 2.47 percent.
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In Europe, stocks were mixed with Germany’s DAX down 0.26 percent, France’s CAC 40 up 0.05 percent and the U.K.’s FTSE 100 adding 0.72 percent.
