Tags: stocks | market | dow | trade war | wall street

Stocks Advance for 3rd Straight Quarter Amid Trade War

Stocks Advance for 3rd Straight Quarter Amid Trade War
(louisscott/Dreamstime)

Monday, 30 September 2019 04:55 PM EDT

U.S. stocks advanced for the third quarter in a row as investors weighed the latest turns in the trade war between the world’s two largest economies. The dollar rose and Treasuries edged higher.

The S&P 500 gained for a third month out of the last four after rebounding from August’s downturn. Tech fueled the rise after the Trump administration partially refuted a report it would target Chinese capital, reversing losses sparked by the news Friday.

Ten-year Treasury yields erased an early advance to trade lower around 1.67%, more than 30 basis points lower than it was at the end of June, after data showed weakening business activity. The dollar pushed quarterly gains toward 2.7%.

The pound fell as Prime Minister Boris Johnson fought off allegations of sexual impropriety and plots in Parliament to oust him over his Brexit plans. West Texas oil fell below $55 a barrel. Gold dipped for a second day, though it was still set for a fourth quarterly gain.

“Investors continue to be people who are pulling petals off a daisy saying ‘there will be an accord, there won’t be an accord, there will be an accord, there won’t be.’ Nobody really knows for sure -- at least I don’t,” Sam Stovall, chief investment strategist at CFRA, said about trade between the U.S. and China in a phone interview.

“Based on the market’s lack of fear, the majority expect some sort of discussion to occur October 10th and that there will be encouraging developments as we move forward.”

The month is finishing much as it began, with foreign-trade uncertainty once again muddying the outlook for investors.

Citigroup said that restricting access to U.S. finance would amount America’s most extreme potential move against China, while a Treasury official said over the weekend that the U.S. has no plans “at this time” to stop Chinese companies from listing on American exchanges. Beijing on Monday vowed to keep opening up its financial markets and encouraging foreign investment, and released a positive report on manufacturing.

Elsewhere, Chinese equities fell in the final session before a week-long holiday. Financial markets and offices in Taipei closed Monday due to the approach of Typhoon Mitag.

Here are some key events coming up this week:

  • Australia’s monetary policy decision is set for Tuesday, with markets and economists leaning toward a third interest-rate cut for 2019.
  • Euro-zone CPI for September is scheduled for Tuesday.
  • There’s a slew of U.S. data including ISM manufacturing on Tuesday, the ADP employment report on Wednesday and the monthly jobs report on Friday.
  • The Reserve Bank of India sets policy on Friday.

Here are the main moves in markets:

Stocks

  • The S&P 500 Index rose 0.5% as of 4 p.m. New York time.
  • The Nasdaq Composite Index gained 0.8%.
  • The Stoxx Europe 600 Index increased 0.4%.
  • The U.K.’s FTSE 100 Index fell 0.2%.

Currencies

  • The Bloomberg Dollar Spot Index increased 0.2%.
  • The British pound rose 0.1% at $1.2301.
  • The euro declined 0.4% to $1.0901.
  • The Japanese yen decreased 0.2% to 108.11 per dollar.

Bonds

  • The yield on 10-year Treasuries fell one basis point to 1.67%.
  • Britain’s 10-year yield dipped one basis point to 0.48%.
  • Germany’s 10-year yield advanced less than one basis point to -0.57%.

Commodities

  • West Texas Intermediate crude sank 2.9% to $54.27 a barrel.
  • Gold decreased 1.8% to $1,480.00 an ounce.

© Copyright 2026 Bloomberg News. All rights reserved.


StreetTalk
U.S. stocks advanced for the third quarter in a row as investors weighed the latest turns in the trade war between the world's two largest economies. The dollar rose and Treasuries edged higher.
stocks, market, dow, trade war, wall street
553
2019-55-30
Monday, 30 September 2019 04:55 PM
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