Stocks close little changed amid trade, Hong Kong worries

Stocks close little changed amid trade, Hong Kong worries

Stocks close little changed amid trade, Hong Kong worries

On the losing end was Gap, which sank 7.6% for the largest loss in the S&P 500 after the retailer slashed its profit forecast for the year.

President Donald Trump said Friday he had not agreed to roll back tariffs on China.

Shares of Boeing Co BA.N jumped 4.5% to $366.96 after the planemaker said it expected USA regulators to approve the return to commercial service of its grounded 737 MAX jet in the coming weeks, and expects commercial service to resume in January.

United Kingdom stocks often have an inverse relationship with the pound as many companies listed on the index are worldwide companies so a higher currency could weigh on exports as well as reducing their dollar earnings.

Investors will be watching for any trade commentary from Trump on Tuesday, when he is expected to speak at The Economic Club of NY.

"The market is myopically focused on the next minute", said Michael Liss, senior portfolio manager at American Century Investments. This sent the oil market down on Monday, as participants fret about the implications for global trade, economic growth, and, as a result, global oil demand growth.

"(Trump) makes the USA decision-making process efficient and transparent, because he basically says what it is", Long said previously at the China Investment Conference, per the SCMP.

The blue chip Dow Jones index was boosted by a strong rise in Boeing shares (+4.5 per cent) and managed to eke out a 10-point gain.

U.S. bond markets were closed for the Veterans Day holiday, making it a relatively quiet session.

WEEK AHEAD: Low interest rates have been a big driver for the stock market's rally, and Fed Chairman Jerome Powell will give testimony on Capitol Hill about the economy on Wednesday.

The Labor Department will report October data for the Consumer Price Index on Wednesday and for the Producer Price Index on Thursday.

Auto sales in China fell for a 16th consecutive month in October, data showed on Monday. Media reports have fueled speculation since last week about a potential Walgreens sale.

Brent for January delivery fell 20 cents to $62.31 on the London-based ICE Futures Europe Exchange.

Increasingly violent protests are taking a further toll on Hong Kong's stock market, with shares falling more than 2 percent on Monday after police opened fire on protesters in the eastern part of the city, wounding at least one person.

Elsewhere in Asia, the Shanghai Composite index declined 1.8 per cent to 2,909.97, while Japan's Nikkei 225 index lost 0.3 per cent to 23,331.84.

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