Finance: Stocks tick higher and soybeans surge
Stocks inched higher Monday after the Supreme Court overturned a sports-betting ban. Soybean prices rallied more than 2% as US-China trade tensions eased. Oil prices were up about 1%.
Stocks inched higher Monday, with the Dow Jones industrial average posting its eighth straight session of gains. The Supreme Court overturned a sports-betting ban. Soybean prices rallied more than 2% as US-China trade tensions eased. Oil prices were up about 1%.
Here's the scoreboard:
Dow Jones Industrial Average: 24,899.41 +68.24 (0.27%)
S&P 500: 2,728.71 0.99 (+0.04%)
AUD/USD: 0.7531 -0.0014 (-0.19%)
ASX 200 SPI futures: 6,122.0 +18.0 (+0.29%)
- Israeli officials killed dozens and injured thousands of Palestinian protesters in Gaza as the US opened its embassy in Jerusalem. Reuters reports it was the deadliest day for Palestinians since 2014.
- The Supreme Court struck down a federal law that had banned gambling on sporting events, ruling it unconstitutional. Casino stocks rallied, with Caesar Entertainment gaining more than 5%.
- OPEC raised its world demand forecasts for 2018 by 25,000 barrels per day. The cartel also said its output rose slightly last month, mainly via Saudi Arabia.
- Washington and Beijing are working on a deal to help ZTE, a Chinese company paralyzed by recent US tariffs. Trump is reportedly requesting that China lift agricultural tariffs on the US in exchange for a ZTE reprieve.
Here is the upcoming economic calendar:
- Australia reports quarterly wage growth numbers.
- Britain releases employment data.
- Retail sales and mortgage delinquency numbers are out in the US.
Click here to read the full text by Gina Heeb