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MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

Stocks - Dow Opens Higher on Trade Talk Relief

Investing.com
Wall Street edged forward after the opening bell.
Wall Street edged forward after the opening bell.

Investing.com - Wall Street was mostly higher on Monday as reported trade talks between the U.S. and China provided some relief to investors.

The S&P 500 rose 5 points, or 0.18%, to 2,855.18 as of 9:43 AM ET (13:43 GMT), while the Dow increased 93 points, or 0.36%, to 25,763.0 and the tech-heavy Nasdaq Composite lost 1 point, or 0.02% ,to 7,814.66.

American and Chinese officials are expected to talk in Washington on Wednesday and Thursday, shortly before new U.S. tariffs on Chinese goods take effect. News of the meeting eased investors concern over an escalating trade war between the two biggest economies in the world.

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Meanwhile, investors are keeping an eye on developments in Turkey and movements of the Turkish lira. The lira continued to fall after the country’s credit rating was cut further into junk territory on Friday and following reports of shots being fired at the U.S. embassy in Ankara.

PepsiCo (NASDAQ:PEP) was up 0.32% after news that it is buying drink-machine maker SodaStream (NASDAQ:SODA) for $3.2 billion. SodaStream surged 9.67%, while Boeing (NYSE:BA) increased 0.88% and Chinese e-commerce giant Alibaba (NYSE:BABA) gained 1.61%.

Elsewhere Tesla (NASDAQ:TSLA) slumped 3.82% after its price target was slashed by JP Morgan, while Facebook (NASDAQ:FB) dipped 0.46% and Netflix (NASDAQ:NFLX) fell 1.14%.

In Europe, stocks were up. Germany’s DAX rose 143 points, or 1.17%, while in France the CAC 40 increased 41 points, or 0.77%, and in London, the FTSE 100 was up 32 points, or 0.43%. Meanwhile, the pan-European Euro Stoxx 50 gained 27 points, or 0.81%, while Spain’s IBEX 35 surged 46 points, or 0.49%.

In commodities, gold futures rose 0.79% to $1,193.50 a troy ounce, while crude oil futures increased 0.20% to $65.34 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.02% to 96.02.

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