Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Canadian trade union Unifor said roughly 4,500 of its members have been temporarily laid off because of the GM strike so far.Autosread more
"I really want to encourage competition because I think competition creates innovation, and when you create innovation everyone wins," Humana CEO Bruce Broussard says.Health and Scienceread more
The former top aide of retired United Auto Workers Vice President Joe Ashton, a former member of the GM's board, was charged Friday with conspiracy to commit wire fraud and...Autosread more
Stocks fell to their lows of the day on Friday on news that Chinese trade officials are cutting short their visit to the U.S.US Marketsread more
The wearables company has reportedly retained advisers to consider exploring a sale of the business.Technologyread more
Roku shares have more than quadrupled this year, but the stock has had some rocky days of late as more players jump into streaming.Technologyread more
Walmart is the latest to pull back from the industry. Federal regulators said they will soon ban flavored e-cigarettes, while some nations have outlawed the products...Health and Scienceread more
Legal experts say that California, which has pledged to sue, has a strong case that the administration's move is unlawful.Politicsread more
Stocks closed sharply higher on Monday as bank shares rose, while concerns over a trade war between the U.S. and key partners dissipated for the moment.
The Dow Jones Industrial Average rallied 320.11 points to 24,776.59, with J.P. Morgan Chase, Goldman Sachs and Caterpillar as the best-performing stocks in the index. The gained 0.7 percent and closed at 2,784.17, as financials climbed 2.3 percent. The Nasdaq composite also advanced 0.9 percent to 7,756.20 as Amazon, Netflix and Apple all rose at least 1 percent.
Bank stocks rose at least 2.5 percent, led by Bank of America, Citigroup, Goldman Sachs and J.P. Morgan Chase. The SPDR S&P Bank ETF (KBE) rose 2.3 percent and posted its best day since March 26, when it gained 3.3 percent.
Equities also got a boost from a positive jobs report released on Friday, which revealed that the U.S. economy . The report helped divert attention away from the ongoing trade war between the U.S. and its biggest partners.
“The market can surprise you with what it’s focused on,” said Art Hogan, chief market strategist at B. Riley FBR. “Now we’re focused back on fundamentals.”
“If you can take focus away from the trade war, that’s a good thing,” Hogan said.
Last week, the U.S. slapped tariffs on $34 billion of Chinese goods. China responded to the tariffs by imposing its own retaliatory levies on imports from the States.
Trade-war fears have been simmering for months, keeping market gains in check as investors fret over the impact of tariffs on corporate profits.
Wall Street looked ahead to the start of the corporate earnings season, with Citigroup, J.P. Morgan Chase and Wells Fargo all scheduled to release their results from the previous quarter. S&P 500 earnings for the second quarter are expected to have grown 20 percent, according to a FactSet estimate.
"The fact that we're heading into the earnings season is a catalyst for stocks," said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. "We're expecting it to be strong and maybe even stronger than the previous one."
European stocks rose after United Kingdom Brexit Secretary David Davis and British Foreign Secretary Boris Johnson resigned. News of the two high-profile departures came quickly after Prime Minister Theresa May secured parliamentary support for a plan to maintain close trade and regulatory ties with the European Union.
The Stoxx 600 index, which tracks a broad swath of European equities, gained more than half a percent.