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(Reuters) Oil prices hit multi-week highs on Monday, buoyed by a weaker U.S. dollar. Investors awaited news from U.S.-China trade talks in London hoping that a deal could boost the global economic outlook and fuel demand.
U.S. stocks ended mostly higher on Monday as investors continued to wait for details about the trade talks between the U.S. and China that kicked off Monday in London. As of market close, no new information was available.
The Dow Jones Industrial Average closed flat on Monday, turning red minutes before the market close while still off session lows. “Investors were originally looking to book some profits after last week’s gains, but optimism continues to show through around the U.S.-China trade talk,” according to Jeff Schulze, head of economic and market strategy at ClearBridge Investments.
The Dow went down 1.11 points or 0.003% to end at 42,761.76, according to the Dow Jones Market Data.
The S&P 500 went up 5.52 points or 0.1% to finish at 6,005.88 for back-to-back gains;
The Nasdaq Composite rose 61.28 points or 0.31% to close at 19,591.24, logging back-to-back gains.
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By Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
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