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Global equities rose on Monday as investors pondered the next steps in US-China trade negotiations.
After rising in Asia, where Hong Kong's Hang Seng grew 1.6%, the Stoxx Europe 600 rose 0.1%.
US markets were closed for Presidents' Day. Dow Jones Industrial Average futures contracts rose 0.1%. The Dow posted its eighth consecutive weekly gain last week, its longest winning streak since November 2017.
Trade tensions between the world's two largest economies have weighed on inventories in recent months, as there is increasing concern that the tariff window may add to global growth.
Officials from both countries have new talks this week in Washington after the talks in Beijing. President Trump tweeted Sunday that "great progress is being made on so many different fronts!"
Auxiliary prepares platform before a group photo with members of US and Chinese trade negotiation delegations at Diaoyutai State Guesthouse in Beijing, China, February 15
Photo:
mark schiefelbein / Press Pool
"The market is worried about Chinese tariffs, but Trump wants an agreement and a lot of fears are usually exaggerated," said Patrick Spencer, vice president of equity at Baird.
Other analysts have been more cautious, knowing that there is still a significant gap between the concessions China is willing to offer and what the Trump administration will accept. Sharp divisions persist over issues such as how Beijing can respond to US complaints that China is pressuring US companies to share technology.
"We do not think the rates will go up on March 2, but major issues remain unresolved," said Andrew Sheets, Morgan Stanley's chief multi-asset asset strategist, in a note to customers.
Investors are also expecting a busy Central Bank courier week with the release of the minutes of the recent Federal Reserve and meetings of the European Central Bank. Fed and ECB dovish signals in recent weeks have helped equities rebound after falling late last year.
"The Fed's more patient terminology has been pretty accommodating for the markets up to now," Spencer said.
The Fed will publish the minutes of its policy meeting from 29 to 30 January on Wednesday and the ECB will publish its minutes of the January meeting on Thursday.
The notes "will be sought to find clues about the depth of changes in their respective perspectives," analysts analyze.
Societe Generale
written in a note to customers.
In currencies, the WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, lost 0.1%.
In the United Kingdom, the British pound rose slightly as a group of British lawmakers left the main British opposition party, the Labor Party, which illustrates how Brexit highlighted the ruptures in the political system. British. The group members are all in favor of the UK joining the EU, although their decision is considered unlikely to change the Brexit outlook.
The pound was up 0.3% against the dollar.
In Asia, Japan's Nikkei finished up 1.8%, while Korea's Kospi index rose 0.7%.
In commodities, Brent crude, the world benchmark for oil, remained broadly stable, while gold prices rose 0.5%.
Write to Georgi Kantchev at [email protected]
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