Stocks – S&P Pulls Back on Trade Uncertainties

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Investing.com – Uncertainty over where trade talks with China are headed held Wall Street back on Monday.

U.S. and Chinese negotiators are set to sit down this week in Washington, although few think a comprehensive trade deal will emerge.

As a result, stocks slipped on the day. The was off 0.45%. The were down 0.36% and the fell 0.33%. Telecom and communications services stocks were among the few sectors showing gains. Energy and staples stocks were lower.

Apple (NASDAQ:) hit a 52-week high, but then fell back to a tiny gain.

While the changes are small, there were some sizable swings for the indexes. The fell as many as 149 points and gained as many as 82.

But the day had to be a disappointment after the big gains seen at the end of last week, especially Friday, after a bullish jobs report.

China wants a stripped-down agreement for now, like buying more soybeans and pork, while the Trump Administration wants a comprehensive deal, including a Chinese commitment to stop theft of intellectual property.

The two sides have been wrangling for more than a year, with both sides boosting tariffs on products imported from the other.

The swings in stocks were evident as well in swings in oil prices as traders tried to figure out how a U.S. withdrawal from parts of Syria and the trade battles would play out.

But both and futures ended down slightly. The yield was at 1.558%, up from 1.514% on Friday.

moved lower as well.

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