US Equity Markets Climb Amid Trade Developments

US equity indexes rise intraday as investors track updates on trade developments, with benchmark indices higher after midday on Monday.

US equity indexes rose intraday on Monday as investors tracked updates on trade developments. The Nasdaq Composite was up 0.4% at 20,659.8, while the Dow Jones Industrial Average and the S&P 500 rose 0.1% each to 44,393.1 and 6,264.7, respectively [1].

President Donald Trump announced plans to impose "very severe tariffs" on Russia in the absence of a deal in 50 days, with tariffs at about 100% [1]. Additionally, Trump revealed plans to impose 30% tariffs on the European Union and Mexico, effective Aug. 1 [1].

The European Commission President Ursula von der Leyen delayed the EU's plan to hit the US with duties on 21 billion euros ($24.49 billion) of its annual exports to the bloc until "early August," hoping to reach a deal with the Trump administration [1].

US Treasury yields were mixed intraday, with the 10-year rate increasing one basis point to 4.43% and the two-year rate losing 1.2 basis points to 3.90% [1]. Official US consumer inflation data for June are due Tuesday, with the producer prices report for last month scheduled for Wednesday.

The consumer price index is expected to have increased 0.3% sequentially and 2.6% annually in June [1]. West Texas Intermediate crude oil was down 2% at $67.1 a barrel intraday Monday [1].

Major companies such as JPMorgan Chase, Wells Fargo, Bank of America, Morgan Stanley, Goldman Sachs, Citigroup, Netflix, Johnson & Johnson, Abbott Laboratories, PepsiCo, and American Express are scheduled to report their latest quarterly financial results later this week [1].

References:
[1] https://finance.yahoo.com/news/equity-markets-rise-intraday-investors-175458861.html