FYI: U.S. stocks drifted between small gains and losses Monday, kept in a narrow range by thin trading volumes, ahead of the start of third-quarter earnings season.
The Dow Jones Industrial Average lost 29 points, or 0.11%, to 26787. The S&P 500 was down 0.14% and the Nasdaq Composite lost 0.10%.
Monday with many banks and fixed-income desks shut in observance of Columbus Day. When regular trading activity resumes Tuesday, analysts say the focus will shift to earnings reports from companies including Goldman Sachs Group and Citigroup, as well as developments on the U.S.-China trade front.
Signs of progress between the two countries had helped stocks rally at the end of last week. Yet many investors have noted that details on key issues like intellectual property have remained elusive, and that a deal may still collapse. Adding to investors’ skepticism, state-run publications in China have had a much more measured tone in describing the two countries’ preliminary agreement, analysts said.
U.S. crude oil fell 2.4% to $53.38 a barrel, with some analysts attributing the declines to waning hopes for a solid U.S.-China trade deal.
That put pressure on some energy shares, with Cimarex Energy losing 1.3% and Devon Energy falling 1.9%.
Meanwhile, corporate news drove some swings among individual stocks.
General Motors lost 0.4% after the United Auto Workers union said it was increasing its weekly payout to workers on strike, suggesting it was preparing to extend a nearly monthlong walkout.
Elsewhere, the Stoxx Europe 600 fell 0.5%, while the pound weakened against the dollar.
The U.K.’s FTSE 100 index dropped 0.5%.
Adding to global growth concerns, Chinese trade data released Monday showed further declines in the country’s exports in September, largely as a result of the trade dispute.
Still, stocks in Asia, which ended trade Friday before President Trump said the U.S. and China had completed the early stages of a deal, rallied Monday. The Shanghai Composite gauge advanced 1.2%, while the benchmark Hang Seng Index in Hong Kong rose 0.8%.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-10-14/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-index-futures-decline-as-concerns-over-global-growth-trade-reemerge-2019-10-14/printWSJ:
https://www.wsj.com/articles/global-stocks-mixed-amid-trade-uncertainty-11571042265Bloomberg:
https://www.bloomberg.com/news/articles/2019-10-13/stocks-in-asia-to-advance-after-trade-progress-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-eases-critical-trade-remarks-three-stars-shine/CNBC:
https://www.cnbc.com/2019/10/14/stock-market-wall-street-in-focus-after-partial-us-china-trade-deal.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/wall-street-flat-as-trade-deal-optimism-wanes-earnings-in-focus-idUKKBN1WT1ITU.K:
https://uk.reuters.com/article/uk-britain-stocks/uk-stocks-recoil-as-brexit-optimism-fades-buyout-spurs-sophos-idUKKBN1WT0SYEurope:
https://www.reuters.com/article/us-europe-stocks/european-stocks-hit-pause-as-trade-doubts-linger-idUSKBN1WT0SPAsia:
https://www.cnbc.com/2019/10/14/asia-markets-us-china-trade-negotiations.htmlBonds: (Bond Market Closed)
https://www.cnbc.com/2019/10/14/forex-markets-us-china-trade-in-focus.htmlCurrencies:
https://www.cnbc.com/2019/10/14/forex-markets-us-china-trade-in-focus.htmlOil
https://www.cnbc.com/2019/10/14/oil-markets-iran-ship-attack-us-china-trade-in-focus.htmlGold:
https://www.cnbc.com/2019/10/14/gold-markets-us-china-trade-in-focus.htmlCurrent Futures:
https://finviz.com/futures.ashx 
