Three things to watch for in the markets on Monday

U.S. President Donald Trump meets with China's President Xi Jinping at the G20 leaders summit in Japan, June 29, 2019.
Kevin Lamarque | Reuters

Here are the most important things to know about Monday before you hit the door.

1. Trade progress?

Investors will be looking for updates on the U.S.-China trade war on Monday. Trade optimism spurred by news that the world's two largest economies agreed to roll back tariffs rallied all three stocks averages to record-highs this week. However, President Donald Trump said Friday he has not agreed to scrap tariffs on Chinese goods, dampening hopes about a resolution. Stocks fell on Trump's comments. China said on Friday that tariff removal is a requirement for a deal.

News of trade progress over the weekend could send the S&P 500 into its sixth straight week of gains, while a turnaround with trade talks could reverse the recent market rally.

2. Earnings season winding down

Earnings season continues next week with Tencent Music and Grocery Outlet set to report on Monday. So far this earnings season, 435 S&P 500 companies have reported with 73% of companies beating earnings estimates and 57% beating sales estimates, according to The Earnings Scout.

The world's largest retailer Walmart reports earnings next week, along with Cisco, Viacom, Nvidia and J.C. Penny.

3. Bond market closed

We'll get a break from bonds as the bond market is closed for the Veteran's Day holiday on Monday. The stock market is open.

Bond yields surged this week on trade optimism as investors ditched their safe haven trades. The 10-year Treasury yield jumped 15 basis points to 1.96%, its highest level since President Donald Trump's election on Thursday on positive trade news.

Major events (all times ET):

Bond market closed for Veteran's Day

8:15 a.m. Boston Fed President Eric Rosengren speaks

Major earnings:

Tencent Music (after the bell)

Liberty Broadband (after the bell)

Noah Holdings (after the bell)

Grocery Outlet (after the bell)

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