“We’re seeing flows come back into FAANG and tech-related names,” he added.
Looking ahead, Chinese officials were set to arrive in Washington on Jan. 13 for a four-day meeting with U.S. counterparts, to sign a preliminary trade pact to end their protracted tariff conflict — a trade clash that had been a the center of investors’ minds before the Mideast worries. The South China Morning Post reported that China had planned to arrive earlier, but delayed their plans after President Trump announced a Jan. 15 date for the signing of the deal.
Over the weekend, Chinese Foreign Minister Wang Yi reportedly urged restraint and said it opposed the use of force in international relations, according to a post on the website of China’s Foreign Ministry . The report also indicated that Yi spoke to Iranian Foreign Minister Javad Zarif.
Which stocks were in focus?
Boeing Co. is considering plans to raise more debt to bolster finances strained by the grounding of its 737 MAX jets, according to The Wall Street Journal. Shares of the airplane maker and defense contractor advanced 0.3% Monday.
Shares of fellow Dow component Apple Inc . /zigman2/quotes/202934861/composite AAPL -1.10% gained 0.8%, after six consecutive weeks of gains during which the consumer electronics company’s stock rose more than 11%.
Goldman Sachs Group Inc . /zigman2/quotes/209237603/composite GS -0.38% and Morgan Stanley /zigman2/quotes/209104354/composite MS -0.06% are being investigated by the Bank of England, Sky News reported Saturday . A Financial Times report Sunday said the reviews were focused on the banks’ financial reporting practices. Goldman shares advanced 1% Monday, while Morgan Stanley shares fell 0.4%.
Bed Bath & Beyond Inc . /zigman2/quotes/209801102/composite BBBY -1.06% shares were in focus after The Wall Street Journal reported that the home-goods retailer has signed a deal to sell roughly half its real estate to a private-equity firm and lease back the space in a transaction that will generate more than $250 million in proceeds. Its shares gained 3% Monday.
Shares of Cal-Maine Foods Inc . /zigman2/quotes/201864009/composite CALM +2.44% skidded 7.9% Monday, after the egg producer reported a surprise loss during its fiscal second quarter, while sales fell 10.7%.
How did other markets trade?
Oil futures climbed more than 3%, with the U.S. benchmark West Texas Intermediate crude for February delivery settling up 0.4% at $63.27 a barrel, after finishing Friday at its best level in more than seven months.
Gold prices closed near a seven-year high at $1,568.8 ounce, up 1.1%, according to FactSet data.
The yield on the 10-year U.S. Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +4.09% rose 2.2 basis points to 1.809%, snapping a two-day losing streak. Bond yields move inversely to prices.
In Asia overnight, stocks closed lower, with the China CSI 300 /zigman2/quotes/210598128/delayed XX:000300 -1.15% declining 0.4%, Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -0.39% ending the session 1.9% lower and the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -1.60% own 0.8%.