How major U.S. stock indexes fared Monday

How major U.S. stock indexes fared Monday

USA stocks seesawed as investors digested the latest shakeup at the White House and on the heels of a tame inflation reading.

Having started the day on a positive note, key share indices in the U.S. traded on a mixed note through the session on Monday, with the Nasdaq Composite clocking a record closing high, and Dow Jones Industrial Average and S&P 500 ending lower.

The Dow Jones industrial average fell on Monday as investors anxious a trade war could develop after President Donald Trump implemented tariffs on steel and aluminum imports.

A month ago, the markets were gripped by fears of higher wages leading to price pressures, triggering a selloff that dragged the main indexes to correction territory.

Gains in Apple, Amazon and chipmakers Broadcom and Micron Technology drove the S&P 500 higher. The U.S Treasury budget report for February is schedule for release at 2:00 p.m. ET.


In Asian markets, Japan's Nikkei Stock Average rose 1.65 percent, Hong Kong's Hang Seng Index gained 1.93 percent, China's Shanghai Composite Index climbed 0.59 percent and India's BSE Sensex jumped 1.83 percent.

Ten of the 11 major S&P sectors were higher, led by 0.62 percent gain in consumer discretionary stocks.

The Nasdaq is up 684.93 points, or 9.9 per cent. The Dow Jones Small-Cap Value TSM Index closed at 10,167.05 for a gain of 16.83 points or 0.17%.

Despite recent gains the index is still down four per cent year to date, with Canada's markets still lacking the sparks of the US economy, said Michael Currie, vice-president of TD Wealth Private Investment Advice.

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