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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a roughly flat opening on Monday as traders look ahead to several key events this week.
Traders may be reluctant to make any significant moves ahead of the historic summit between President Donald Trump and North Korean leader Kim Jong Un on Tuesday.
Ahead of the meeting, Secretary of State Mike Pompeo indicated the U.S. is prepared to offer North Korea ?different? and ?unique? security assurances in exchange for the complete, verifiable and irreversible denuclearization of the Korean peninsula.
In remarks last Thursday, Trump expressed some optimism about his meeting with Kim but stressed that he is willing to walk away from negotiations.
Trump said his administration has stopped using the term "maximum pressure" with regard to North Korea and suggested the success of the negotiations could be determined by whether he uses the words after the meeting.
In addition to the highly anticipated Trump-Kim meeting, traders are also looking ahead to monetary policy announcements by the Federal Reserve and the European Central Bank.
The Fed is widely expected to raise interest rates by 25 basis points, while the ECB has indicated the meeting will be used to discuss ending its bond purchasing program.
Meanwhile, trade concerns may continue to hang over the markets after Trump backed out of a joint G7 communiqué over the weekend.
Trump continued to hammer U.S. allies on trade after leaving the G7 summit early in order to attend the meeting with Kim in Singapore.
After an early move to the downside, stocks moved modestly higher over the course of the trading session on Friday. With the turnaround on the day, the Dow and the S&P 500 reached their best closing levels in about three months.
The major averages finished the day just off their highs of the session. The Dow climbed 75.12 points or 0.3 percent to 25,316.53, the Nasdaq inched up 10.44 points or 0.1 percent to 7,645.51 and the S&P 500 rose 8.66 points or 0.3 percent to 2,779.03.
For the week, the major averages moved sharply higher. The Dow soared by 2.8 percent, the S&P 500 surged up by 1.6 percent and the Nasdaq jumped by 1.2 percent.
The rebound by stocks as the day progressed came as traders kept a close eye on any developments out of the G7 summit in Canada.
The summit is expected to focus on trade relations amid the ongoing dispute over President Donald Trump imposing tariffs on steel and aluminum imports from Canada, Mexico, and the European Union.
Trump continued his tough talk on trade as he prepared to head to the meeting, arguing that the U.S. is being treated very unfairly on trade.
In posts on Twitter ahead of the summit, Trump lashed out at Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron.
"Please tell Prime Minister Trudeau and President Macron that they are charging the U.S. massive tariffs and create non-monetary barriers," Trump tweeted.
He added, "The EU trade surplus with the U.S. is $151 Billion, and Canada keeps our farmers and others out. Look forward to seeing them tomorrow."
Trump described Trudeau as "indignant" for bringing up the relationship between the U.S. and Canada without mentioning Canadian tariffs on U.S. dairy products.
"Looking forward to straightening out unfair Trade Deals with the G-7 countries. If it doesn't happen, we come out even better!" Trump tweeted.
In remarks to reporters before the leaving for the summit, Trump suggested Russia should be included in the meeting of major industrialized countries.
Housing stocks moved significantly higher over the course of the session, driving the Philadelphia Housing Sector Index up by 1.8 percent. The index climbed to its best intraday level in well over a month.
Transportation, biotechnology, and computer hardware stocks also saw some strength on the day, while oil service and semiconductor stocks moved to the downside.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
At 11:30 am ET, the Treasury Department is due to announce the results of its auction of $32 billion worth of three-year notes.
The Treasury is also scheduled to announce the results of its auction of $22 billion worth of ten-year notes at 1 pm ET.
The economic calendar for the week starts off quiet but picks with monetary policy announcements by the Federal Reserve and the European Central Bank later this week.
Reports on consumer and producer price inflation, retail sales, and industrial production are also likely to attract some attention.
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| | Stocks in Focus |
Shares of Rent-A-Center (RCII) are moving higher in pre-market trading after the rent-to-own furniture retailer said it received an increased takeover offer after ending its strategic review.
Dating website operator Match Group (MTCH) may also see early strength after Jefferies upgraded its rating on the company?s stock to Buy from Hold.
On the other hand, shares of Disney (DIS) may move to the downside after announcing animation chief and Pixar co-founder John Lasseter will leave the entertainment giant at the end of the year. |
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| | Europe |
European stocks have moved mostly higher during trading on Monday as trader look ahead to the historic summit between President Donald Trump and North Korean leader Kim Jong Un.
Trump backed out of a joint communiqué after the G7 summit over the weekend, and although this has raised trade war concerns, traders appear to have shrugged off this development for now.
While the U.K.?s FTSE 100 Index is up by 0.6 percent, the French CAC 40 Index and the German DAX Index are both up by 0.1 percent.
On the economic front, data released by the Office for National Statistics showed industrial production in the U.K. unexpectedly decreased in April, falling 0.8 percent month-over-month.
On a yearly basis, industrial production growth eased to 1.8 percent in April from 2.9 percent in March. The expected growth rate was 2.7 percent.
A separate report showed U.K. construction output expanded 0.5 percent in April, rebound from a 2.3 percent slump in March. The increase was below the 2.2 percent jump economists had forecast.
Meanwhile, a survey from the Bank of France revealed the country's economy is forecast to grow at a slightly faster pace in the second quarter.
The bank kept its growth forecast for the second quarter unchanged at 0.3 percent. In the first quarter, the economy saw 0.2 percent growth.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian markets ended mostly higher on Monday, with investors shrugging off concerns about a global trade war and looking ahead to the outcome of a historic meeting between President Donald Trump and the North Korean leader Kim Jong Un.
However, gains were modest in most of the markets in the region amid largely thin volumes ahead of crucial monetary policy meetings by the Bank of Japan, the European Central Bank, and the U.S. Federal Reserve.
Japanese stocks ended moderately higher, although trading activity was relatively light. Japan?s Nikkei 225 Index climbed 109.54 points or 0.5 percent to 22,804.04.
In economic news, core machine orders in Japan soared a seasonally adjusted 10.1 percent to 943.1 billion yen in April, according to the data released by the Cabinet Office. That beat expectations for a gain of 2.4 percent following the 3.9 percent decline in March. On a yearly basis, core machine orders jumped 9.6 percent, beating forecasts for 3.8 percent increase.
The Bank of Japan said the M2 money supply in Japan was up 3.2 percent on year in May, coming in at 1,003.2 trillion yen. That was unchanged from the April reading following a downward revision from 3.3 percent.
Hong Kong?s Hang Sang Index rose 105.49 points or 0.3 percent to 31,063.70. Tancent Holdings, China Resources Power Holdings, Sands China, Galaxy Entertainment and Cnooc were among the notable gainers in the Hong Kong market.
Meanwhile, Australia?s benchmark S&P/ASX 200 Index ended down 12.10 points or 0.2 percent at 6,045.20. The broader All Ordinaries Index dipped 12.60 points or 0.2 percent to 6,156.80.
Metals and industrials stocks were among the prominent losers in the Australian market.
Retail Food Group plunged 9 percent. Aurizon Holdings and Asaleo Care both ended lower by about 4 percent. Newcrest Mining, Santos, Mineral Resources, Pilbara Minerals and Lynas were among the other notable losers.
Nanosonics, Donino's Pizza, Seven West Media, Mayne Pharma, Sigma Pharma, Tabcorp Holdings, Graincorp, Coca-Cola Amatil and Whitehaven Coal ended stronger by 1 to 6 percent.
The Chinese market also extended its losses to a third successive session amid growing concerns about a lack of liquidity.
The Shanghai Composite Index drifted down by 14.79 points or 0.5 percent to 3,052.36, with technology, travel and media stocks posting losses.
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| | Commodities |
Crude oil futures are sliding $0.63 to $65.11 a barrel after slipping $0.21 to $65.74 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,302.40, down $0.30 from the previous session?s close of $1,302.70. On Friday, gold edged down $0.30.
On the currency front, the U.S. dollar is trading at 109.94 yen compared to the 109.55 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1788 compared to last Friday?s $1.1807.
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