The Dow Jones Industrial Average was once again nearing the 29,000 level after climbing above it for the first time Friday. Both the S&P 500 and Nasdaq Composite closed at fresh records.
A delegation led by Liu He, China’s vice premier and chief trade negotiator, arrived in Washington on Monday and is expected to stay until the phase one trade agreement is signed Wednesday. Additionally, China is expected to lose its label of being a currency manipulator, FOX Business has learned. The move was part of a reported ask from Beijing as part of agreeing to other terms of the phase one deal. That report could come as early as Monday or before Wednesday.
On the earnings front, the big banks are in focus as Citigroup, J.P. Morgan and Wells Fargo kick off earnings season ahead of Tuesday’s opening bell.
Retailers traded mixed after giving updates on the holiday season. Lululemon and Crocs raised their guidance while Abercrombie & Fitch and American Eagle Outfitters reaffirmed their outlooks.
Elsewhere, Biogen agreed to buy an early-stage experimental treatment for Alzheimer's and Parkinson's dieseases from Pfizer for an upfront payment of $75 million plus potential milestones and royalties. Read more at FOX Business