U.S. stock market indexes advanced modestly at Monday's open and then built on the early gains. In the Dow Jones Industrial Average, Apple (AAPL) rose 1.4% and chipmaker Intel (INTC) added 1.3%. Facebook (FB) took a lead position in the Nasdaq 100, advancing 1.4%.
XThe Nasdaq sailed ahead 0.5%, while the large cap S&P 500 cruised 0.2% and the blue chip Dow Jones flattened. Small caps as gauged in the Russell 2000 strolled 0.3% higher.
Volume in the stock market today fell on both major exchanges vs. the same time Friday.
China news has been quiet lately but Beijing moved the needle over the weekend.
China Sees Chance For Talks
According to China's state-run media, face-to-face trade negotiations with the U.S. could resume soon. Over the weekend, Chinese companies inquired about buying U.S. agricultural products and also asked China to lift its retaliatory tariffs on the goods, Bloomberg News reported.
Interest rates also received some attention.
Interest Rates Bullish For Stock Market
President Trump tweeted Monday morning that "it is far more costly" for the Federal Reserve to cut interest rates deeper later but "very inexpensive, in fact productive, to move now." The Federal Reserve will meet July 30-31. CME Group's FedWatch Tool pegs the chances of a quarter point rate cut at 72% vs. about 28% for a half point cut. The gauge sees no chance that the Fed will stand pat.
After the close, two IBD 50 stocks will report quarterly results.
Software designer Cadence Design Systems (CDNS) is expected to grow quarterly earnings 18% to 53 cents a share. Cadence is No. 7 in the IBD 50.
Analysts expect aerospace defense play Hexcel (HXL) to grow quarterly earnings 19% to 89 cents a share. Hexcel is No. 32 in the IBD 50.
The IBD 50 is a computer-generated list of the top stocks in fundamentals and technicals. Growth funds are attracted to such stocks.
Follow Paul Whitfield at Twitter.com/IBD_PWhitfield
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