Both sides have raised tariffs on billions of dollars of each other’s imports in the fight over complaints about Beijing’s trade surplus and technology development plans. The United States, Europe, Japan and other trading partners say those violate Chinese market-opening commitments.
“A mixed set of leads sets Asia up for a muted start to a week focused on monetary policy. China’s trade data had been one to disappoint over the weekend after further monetary stimulus announcements,” said Jingyi Pan, market strategist at IG in Singapore.
U.S. stock indexes finished last week little changed after a day of mostly quiet trading capped the S&P 500’s second straight weekly gain.
Traders had a muted reaction to new data showing that U.S. employers added fewer jobs than expected in August. The report also indicated more people entered the workforce last month, wages rose more than expected and the unemployment rate remained near the lowest level in five decades.
The jobs report was the latest in a mixed batch of economic data that investors scrutinized this week in search of clues about how the economy is weathering the costly trade war between the U.S. and China. Their concern: Tariffs that each side has imposed on billions of goods may be dampening global economic growth and threatening to nudge the United States into a recession.
Mixed economic data aside, investors have been encouraged by news that envoys from Washington and Beijing plan to begin another round of trade talks next month.
The S&P 500 inched up 2.71 points, or 0.1%, to 2,978.71. The benchmark index gained 1.8% for the week. The Dow Jones Industrial Average rose 69.31 points, or 0.3%, to 26,797.46. The Nasdaq wobbled for much of the day, ending with a loss of 13.75 points, or 0.2%, to 8,103.07. The Russell 2000 index