Stocks Show Slight Gains Following G7 Fiasco

U.S. stocks closed slightly higher Monday as investors shrugged off concerns over a tumultuous G-7 meeting over the weekend at which President Donald Trump lashed out at U.S. allies.

The Dow Jones Industrials nicked higher 5.78 points to end Monday at 25,322.31, with gains in UnitedHealth, Home Depot, and Boeing offsetting losses in McDonald’s and 3M.

The S&P 500 picked up 2.97 points to 2,782, as a rise in telecommunications and consumer staples led the 11 sectors higher.

The NASDAQ added 14.41 points to 7,659.92, amid a 1.3% rise in shares of Facebook and a 0.7% gain in Google-parent Alphabet.

Wall Street was also preparing for the hotly anticipated meeting between Trump and North Korea leader Kim Jong Un in Singapore, set to occur on Tuesday.

President Trump and his administration escalated criticism of Prime Minister Justin Trudeau and international trade over the weekend at the annual G-7 summit that took place in Quebec

The conclusion of the two-day summit, where Trump met with leaders from Europe and Canada, resulted in the U.S. incumbent refusing to endorse the joint G-7 statement that called for a reduction of tariffs — sparking tensions between him and fellow G-7 leaders.

He also criticized Trudeau of “betrayal,” saying that the prime minister’s comments on U.S. tariffs were “very dishonest & weak.”

Investors are also looking ahead to a meeting of the U.S.Federal Reserve, due to take place on Tuesday and Wednesday.

The U.S. central bank is expected to announce a quarter-point increase in interest rates as it seeks to normalize monetary policy with the economy showing signs of health.

Prices for the benchmark for the 10-year U.S.Treasury fell, raising yields to 2.95% from Friday’s 2.94%. Treasury prices and yields move in opposite directions.

Oil prices gained 33 cents at $66.07U.S. a barrel.

Gold prices improved $1.50 at $1,304.20U.S. an ounce.

This article provided by NewsEdge.