Highlights
Stocks rebounded Monday and oil prices fell back amid reports that Iran was actively seeking to negotiate an end to its conflict with Israel and to resume talks about its nuclear program. The Dow Jones industrial average rose 0.8 percent, the S&P 500 gained 0.9 percent, and the Nasdaq was up 1.5 percent. US Treasury yields rose while oil prices and the dollar declined.
Meanwhile, the market reacted favorably to President Trump's comment that he and Canadian Prime Minister Mark Carney might make progress on a trade accord on the sidelines of the Group of Seven summit meeting in Canada. Among sectors, megacaps led the winners, along with chipmakers including AMD, which rose on a report that it may have a deal with Amazon to furnish chips. On the negative side, defense stocks and energy shares fell back with oil prices after outperforming on Friday.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.