US stocks traded mixed, as market sentiments were mixed due to rising hopes on global trade and concerns over bipartisan talks to avert another US government shutdown. The Dow Jones Industrial Average slid 53.22 points, or 0.21 per cent, to 25,053.11 on Monday.
U.S. stocks opened cautiously higher Friday, a day after the markets posted a stunning late-session rebound that saw a 865-point swing in the blue-chip Dow Jones Industrial Average. The three major stock indexes, the Dow, the S&P 500 and the tech-heavy Nasdaq Composite, are now on course to book their first up week in the last four weeks.
U.S. stock futures rose Monday, indicating that markets may open lower in a holiday-shortened session after the worst week of trading since the financial crisis of 2008. Wall Street trading on the New York Stock Exchange will end at 1 p.m. Eastern Time, on the eve of Christmas and will be closed on Tuesday for the holiday.
U.S. stocks capped the worst week in a month, as the selloff in Treasuries that took yields to seven-year highs persisted amid speculation the latest jobs report clears the path for raising interest rates. Technology shares led losses Friday, sending the Nasdaq 100 Index to a weekly drop of 3 percent amid concern the U.S.-China trade spat will intensify. Eight of 11 sectors declined in the S&P 500. Intel Corp. dropped the most in the Dow Jones Industrial Average after a report on Chinese hacking. Stocks began the day higher after the employment data added to confidence in the strength of the American economy.
U.S. equity futures jumped alongside the currencies of Canada and Mexico as negotiators agreed to preserve a three-way trade bloc. The breakthrough supported equity markets, with European stocks climbing as havens including the yen and gold fell.