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Indexes Find Way Tentatively to New Heights

GOOG

Stocks pulled back slightly on Monday from the record highs reached in the previous session as investors digested mixed signals around U.S.-China trade talks.

The Dow Jones Industrial Average recovered 10.35 points to 28,015.24, above Friday's all-time record close.

The S&P 500 added 0.4 points to Friday's record, at 3,116.86

The NASDAQ docked 2.58 points from Friday's all-time high to 8,538.25.

Over the past month, the Dow and S&P 500 are both up more than 4%. The NASDAQ, meanwhile, is up 5.6% in that time through Friday's close.

Trade bellwether Caterpillar dipped 1.3%. Facebook and Alphabet, meanwhile, fell around 1% each.

U.S.-China trade talks remain a key driver for U.S. equities, with last week's records supported by rising optimism that a limited, phase-one trade deal will soon be struck.

Stock-index futures were trading higher early Monday after Chinese state media outlet Xinhua said Chinese Vice Premier Liu He, the country's top trade negotiator, held a phone conversation with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday, describing the discussions as "constructive."

The Trump administration is likely to issue Monday a 90-day extension of a license allowing U.S. companies to continue doing business with Chinese telecom giant Huawei Technologies Co.

Huawei was added to a federal list of restricted entities earlier the year, which are suspected as working against U.S. national security interests, and its status has been seen as a key issue in trade negotiations.

Meanwhile, China's central bank on Monday lowered the interest rate on its regular reverse repurchase open market operations for the first time since October 2015 in an effort to boost market confidence and buoy slowing growth.

Prices for the 10-Year U.S. Treasury were slightly higher, thus lowering yields to 1.8% from Friday's 1.81%. Treasury prices and yields move in opposite directions.

Oil prices dipped 92 cents to $56.80 U.S. a barrel.

Gold prices were better $4.40 to $1,472.90 U.S. an ounce.



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