Wall Street stocks look headed for a sluggish start on Monday, with investors looking ahead to the outcome of the highly anticipated meeting between Donald Trump and the North Korean leader Kim Jong Un in Singapore.
Trade war concerns remain following the U.S. President's refusal to sign the joint G7 communique and his criticism of Canada and a few other countries that they are charging massive tariffs to U.S. farmers, workers and companies.
This could result in Wall Street finding it tough to find support at higher levels.
Also, with the Federal Reserve's two-day monetary policy meeting commencing tomorrow, traders are likely to stay refrain from making big moves. It is widely expected that the Fed will hike interest rates. The central bank's outlook for further hikes this year will set the near term trend for the market.
On Friday, the Dow ended up 0.3 percent and the S&P 500 rose 0.3 percent, both registering their best closing levels. The Nasdaq gained 0.1 percent.
Today, most of the in Asian ended on a positive note, hoping the Trump - Kim Jong meet would help ease tension in the Korean Peninula. Major European markets are currently trading higher.
by P2PNews Staff Writer