MARKETS: U.S. stock indexes wavered in Monday morning trading, weighed down by losses for bank stocks.
People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, April 15, 2019. Asian markets were broadly higher Monday on signs that the U.S. and China were closing in on a trade deal after months of negotiations. U.S. stock indexes wavered in Monday morning trading, weighed down by losses for bank stocks.
Still, stocks have enjoyed a hot start to the year as pessimism about the U.S. economy's chances of avoiding recession has eased, and the Federal Reserve's decision to hold steady on interest rates. The S&P 500 remains just 1% off its record high set in September. KEEPING SCORE: The S&P 500 was down 0.1%, as of 10:05 a.m. Eastern time. It flipped from a small gain of 0.1% at the open to modest losses of as much as 0.2%.
Citigroup also reported stronger profit for the first three months than analysts expected, but its stock slipped 0.6%. Chinese foreign ministry spokesman Lu Kang said Thursday that the discussions were "moving forward" and "new substantial progress" was made.
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