Export controls are at the top of the agenda for trade talks between the U.S. and China on Monday.
U.S. stocks and Treasury yields were little changed early Monday, while the dollar weakened slightly.
Asian indexes mostly rose ahead of the China-U.S. talks, with Hong Kong’s Hang Seng Index gaining 1.6%.
As of Friday, the three main U.S. stock indexes were all positive on the year.
European indexes fell.
The primary focus of trade negotiations between the U.S. and other countries is export controls. S. On Monday, China follows.
The two sides’ delegations are gathering in London. U. S. Negotiators will likely put pressure on Xi Jinping’s emissaries to increase exports of magnets and rare-earth minerals. Over the weekend, China’s Commerce Ministry announced that, as a courtesy, it had granted export licenses for a few products related to rare earth elements.
The National Economic Council’s director, Kevin Hassett, predicted that the negotiations would lead to Washington easing China’s access to semiconductors and Beijing swiftly releasing rare earths for export. He said to CNBC on Monday, “I anticipate this to be a brief meeting with a big, firm handshake.”.
exports from China to the United States. S. dropped 35% year over year in May, according to fresh data. Since February 2020, when Covid-induced shutdowns occurred, that was the biggest decline. A surge in outbound shipments from other countries, such as Southeast Asia and the EU, counterbalanced that decline.
U. S. While the dollar slightly declined, stocks and Treasury yields did not move much in the early hours of Monday. Generally speaking, Asian indexes increased before the China-U. S. . discussions, as the Hang Seng Index of Hong Kong increased by 1 point 6 percent.
On Friday, the three primary U. S. All stock indexes had a positive year. It was the first time since February that the SandP 500 closed above 6000.
The stock indexes were not all the same. The S&P 500 saw minimal movement, the Nasdaq Composite increased slightly, and the Dow industrials dipped slightly.
Warner Bros. Following the announcement of the conglomerate’s intention to split into two publicly traded companies, Discovery stock led gains among personal stocks.
Indexes in Europe declined.
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