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The Dow Jones Industrial Average finished Monday's session within range of emerging from out of correction territory and stocks finished the session higher as investors focused on a series of mergers as evidence of optimism brewing on Wall Street. However, the stock market lost some momentum in the waning minutes of trade amid headlines from a Reuters interview of President Donald Trump, where he criticized the Federal Reserve's plans to raise interest rates and accused China of manipulating its currency, the yuan . The Dow closed up 89.37 points, or 0.4%, at 25,758.69, putting the gauge less than 0.5% from finishing out of correction territory, which it entered on Feb. 8. Correction is defined as a drop of at least 10% from a recent peak. The S&P 500 index , meanwhile, ended the day up 0.2% at 2,857.05, about 15 points shy of its Jan. 26 peak at 2,872.87. The Nasdaq Composite Index lagged its peers, but closed up less than 0.1% higher at 7,821.01. The market had gained throughout the trading session extending optimism from late last week on reports that U.S. and China were laying the groundwork for ending their protracted trade dispute. However, via his late-Monday Reuters interview, Trump suggested that he didn't anticipate a resolution soon from the coming trade talks. Trump also criticized Jerome Powell's Fed, saying that he needed help from the central bank to improve the economy, suggesting that a series of rate hikes by Powell & Co., were undercutting pro-market policies. In corporate news, Tesla Inc. saw its shares end lower amid continued concerns about the electric-car maker's leadership and the likelihood of a go-private transaction. Trump also accused China of manipulating its currency.
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Politico
Wall Street investors are awaiting a key gathering of prominent central bankers at Jackson Hole, Wyo., which could have implications for an array of assets, from international stocks and bonds to emerging-market assets. The policy-maker proceedings
Wall St. Rises on Trade Optimism, Pares
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