1 week Ago
US Treasury Secretary Scott Bessent speaks with reporters after attending a meeting at the Capitol Building in Washington, DC. Bessent expressed fear that US shelves will run out of goods due to the tariff war. Anna Moneymaker/Getty Images/AFP (Photo by Anna Moneymaker / GETTY IMAGES NORTH AMERICA / Getty Images via AFP) NEW YORK, United States – Global stocks were steady on Monday as investors welcomed the absence of further trade war escalation over the weekend and as countries seek to temper US President Donald Trump’s tariffs.
Major bourses avoided big swings on a comparatively news-light day ahead of heavily anticipated economic releases and earnings later in the week. Both the Dow and S&P 500 notched modest gains while the tech-rich Nasdaq finished the day slightly lower. READ: Asian shares inch higher as uncertainty over US tariffs persists “A weekend light on drama was just what the doctor ordered for financial markets,” said AJ Bell investment director Russ Mould.
Analysts said that market sentiment has calmed since Trump dialed down pressure on Federal Reserve boss Jerome Powell and hinted at progress in trade talks with economic partners. “While last week’s market action and today’s early session suggest calmer waters, any sense of security is precarious,” said City Index and FOREX.com analyst Fawad Razaqzada.
“Underneath the surface, key risks persist — trade tensions, recession worries, and monetary policy uncertainties are very much alive.” US giants Amazon, Apple, Meta and Microsoft all report their first-quarter earnings this week, with investors looking to assess the impact of tariffs on businesses. Eyes will also be on the release of several closely watched US economic indicators which “may either dampen or revive concerns about recession in the world’s largest economy,” Mould added.
Crude prices fell as investors worried about the impact of the trade war on the US economy. Bjarne Schieldrop of SEB Research said oil demand was “at risk as US consumers soon will face hard tariff realities.” Analysts are concerned that the punitive tariff levels that the US and Chinese governments have imposed could lead to shortages of certain goods.
US Treasury Secretary Scott Bessent said Monday he was not concerned “at present” about American stores potentially running out of items due to Trump’s tariffs. Traders are hoping governments can hammer out deals with Trump to soften the impact of his sweeping tariffs, with reports last week saying China was considering exempting some US goods from its hefty retaliatory measures. Beijing has said there are no active negotiations between the economic superpowers and on Monday an official denied Trump’s claims to have spoken with Xi by phone.
READ: China says ‘no phone call’ recently between Xi and Trump In Beijing, senior economic planner Zhao Chenxin said China was on the “right side of history” in its grueling trade war with the United States. Japanese media reported that a second round of trade talks in Washington was set for Thursday. The discussions will be closely watched as a barometer for efforts by other countries seeking tariff relief.
Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Bessent said earlier a trade “understanding” between South Korea and the United States could be reached by this week.
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