Economics
Stocks Claw Back Losses as Geopolitics Fears Cool: Markets Wrap
- U.S. cancels North Korea summit, considers import car tariffs
- Treasuries rise with gold and yen as investors seek havens
Picet Strategist Says 'Don't Be Distracted by Geopolitical Noise'
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U.S. stocks partially rebounded from early declines Thursday sparked by the cancellation of the U.S.-North Korea summit, as investors assessed the broader impact on trade relations and economic growth. Gold posted its biggest gain in a month and Treasuries rose with the yen amid a move to safe-haven assets.
The S&P 500 Index and Dow Jones Industrial Average remained lower despite the bounce-back, while the Nasdaq Composite Index and small cap Russell 2000 Index were essentially unchanged. Transportation stocks led gainers and energy companies paced decliners, as oil weighed on the shares.