Standard & Poor’s and Dow are one point away from record levels


The Standard & Poor’s 500 Index ended the trading session on Wall Street slightly lower on Monday, as investors awaited news about a global minimum corporate tax, persistent inflation fears and a lack of market moving factors.
Dow Jones joined Standard & Poor’s in closing lower, while the Nasdaq ended the session higher. However, Standard & Poor’s and Dow Jones are staying one percentage point away from their record closing highs.
The Group of Seven of the world’s advanced economies agreed on Saturday to support a global minimum corporate tax of at least 15 percent, a move the US Treasury Secretary called an “unprecedented important pledge” to end a race to the bottom among tax systems around the world.
The Dow Jones Industrial Average closed down 127.01 points, or 0.37 percent, to 34629.38 points, while the benchmark Standard & Poor’s 500 index fell 3.37 points, or 0.08 percent, to end the session at 4226.52 points.
The Nasdaq Composite Index closed up 67.23 points, or 0.49 percent, to 1,3881.72 points.

European stocks

European stock markets hit record highs on Monday, supported by another round of gains for automakers, which overshadowed declines in commodity-related shares triggered by downbeat export data from China.
The index of shares of automakers and its components rose 0.9 percent, to its highest level since March 2015, extending its gains for the past week, which amounted to 5.3 percent.
The pan-European Stoxx 600 index ended the trading session 0.2 percent higher, while investors are now awaiting the European Central Bank’s meeting later this week.
Shares of euro zone banks as a whole rose while government bond yields settled near their lowest levels in a month ahead of Thursday’s European Central meeting, when monetary policy makers are expected to stick to their accommodative stance.
The index of European miners fell 1.6 percent as copper prices fell after slower-than-expected growth in Chinese exports raised concerns about weak demand for the red metal.
Oil and gas stocks fell 0.3 percent as crude prices fell ahead of talks this week between Iran and world powers on a nuclear deal that, if concluded, is expected to boost oil supplies.


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