Stocks edge forward in early trade, helped by Apple a day after it unveiled three new iPhones along with a new Apple Watch and a TV subscription service; S&P and Dow both +0.2%, Nasdaq +0.3%.
China released a list of U.S. products it will exempt from the higher tariff rate, but the list did not include pork or soybeans.
European bourses trade higher, with U.K.’s FTSE +0.8%, Germany’s DAX +0.6% and France’s CAC +0.3%; in Asia, Japan’s Nikkei +1% but China’s Shanghai Composite -0.4%.
In the U.S., gains in Apple (+1.8%) help give the tech sector (+0.5%) with a much-needed lift after starting the week with a big drop amid a strong market rotation away from growth-oriented shares into underappreciated value companies.
The financial (-0.6%), materials (-0.4%) and consumer discretionary (-0.3%) sectors are early market laggards.
U.S. Treasury yields tick higher, with the two-year yield up a basis point to 1.67% and the 10-year yield 3 bps higher to 1.73%; U.S. Dollar Index +0.4% to 98.68.
U.S. WTI crude oil +0.3% to $57.60/bbl.
Still ahead: wholesale trade, EIA petroleum inventories
Source: seekingalpha.com
