The major averages finished in the green ahead of earnings season and new tariff rules and restrictions on August 1st. The Dow Jones Industrial Average gained 88 points or 0.20%. The S&P 500 rose 8 points or 0.14% while the Nasdaq rose 54 points or 0.27%.
Over the weekend President Trump announced the U.S. will impose 30% tariffs on the European Union and Mexico starting Aug. 1. Leaders of the EU and Mexico indicated they intend to keep talking with the Trump administration this month in an attempt to agree on a lower rate.
On the earnings front, a slew major banks, including JPMorgan Chase will report this week.
The banks were all higher. The Industrials and Communication stocks also performed well.
Bonds were quiet today ahead of inflation data later in the week. The 10-year Treasury yield was higher by a basis point to 4.42%. The 30-year yield was up two basis points to 4.97%.
On the commodity front, the price of oil dropped 2% while the energy sector fell a percent. Gold was modestly lower while bitcoin rose a percent to new highs.
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