Wall Street builds immunity to trade war rhetoric

Fears of tariffs and a potential global trade war have jostled U.S. stocks over the past few months, but there is a sense among investors that the market is taking the drum beat of rhetoric and statements more in stride.

In the latest salvo, U.S. President Donald Trump announced hefty tariffs on $50 billion of Chinese imports on Friday, and Beijing threatened to respond in kind.

But even as the developments threatened to ignite a trade war between the world's two largest economies, the equity market largely shrugged it off. The benchmark S&P 500 index .SPX ended down only 0.1 percent on Friday.

That paled compared to losses earlier in the year that were sparked by fears of a U.S.-China trade war that would be detrimental to economic growth.

“The market has gotten reasonably comfortably numb to this tariff stuff,” said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. “They are becoming more accustomed to this being a first foray and negotiating tool.”

The U.S. Customs and Border Protection is to begin collecting tariffs on an initial tranche of 818 Chinese product categories on July 6. 

Later in March, the S&P 500 tumbled 2.1 percent on another day of apparent escalating U.S.-China tensions.

So far, Trump has taken little action beyond tariffs of 25 percent on steel and 10 percent on aluminum on imports from China, the European Union and other countries.

FAANG propels Nasdaq to record high, broader markets flat

Strong gains in tech heavyweights lifted the Nasdaq to a record intra-day high on Tuesday, while declines in financial and energy stocks weighed on the S&P 500 and Dow.

 The so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet — rose between 0.5 percent and 1.7 percent, helping the S&P technology index rise 0.5 percent.

However, investors were still wary about trade discussions and equity index futures pared gains earlier after White House economic adviser Larry Kudlow said President Donald Trump may seek separate talks with Canada and Mexico in a bid to get individual trade deals with the two countries.

“The market is a little bit on edge when it comes to trade talks,” said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.

A relentless rally in stocks last year, that sent the main U.S. indexes to record highs almost every other week, came to a halt in late January on issues ranging from rising interest rates, trade concerns to geopolitical issues.

However, strength in the U.S. economy, as shown by the latest jobs report, helped investors shift their focus back to fundamentals.

S&P financials were the biggest percentage decliners with Bank of America, JPMorgan and Goldman Sachs falling more than 0.5 percent.

Twitter gained 5.1 percent on the social network’s inclusion in the benchmark S&P 500 index. Netflix, which is set to join the S&P 100, rose 1.7 percent.

Advancing issues outnumbered decliners for a 1.40-to-1 ratio on the NYSE and for a 2.07-to-1 ratio on the Nasdaq.

The S&P index recorded 38 new 52-week highs and seven new lows, while the Nasdaq recorded 159 new highs and 16 new lows.

Wall Street opens higher as oil prices rise

U.S. stocks opened higher on Monday as energy shares gained on the back of surging oil prices and Starbucks got a boost from its partnership with Nestle.

 The Dow Jones Industrial Average rose 55.15 points, or 0.23 percent, at the open to 24,317.66. The S&P 500 opened higher by 5.94 points, or 0.22 percent, at 2,669.36. The Nasdaq Composite gained 32.20 points, or 0.45 percent, to 7,241.82 at the opening bell.

Wall Street higher as consumer and bank stocks gain

Wall Street’s main indexes were higher on Friday as strong December retail sales data drove gains in consumer stocks and bank results pushed up the financial sector.

The S&P consumer discretionary index .SPLRCD jumped 0.55 percent after data showed households bought a range of goods and figures for the prior month were revised higher, suggesting the economy exited 2017 with strong momentum.

Amazon (AMZN.O) rose 1.3 percent and provided the biggest boost to the S&P and the Nasdaq.

JPMorgan Chase & Co (JPM.N) rose 0.5 percent in choppy trading after the biggest U.S. bank by assets reported profit that beat estimates, benefiting from higher interest rates and loan growth.

Wells Fargo (WFC.N) fell 0.7 percent as the bank set aside more money in fourth quarter to cover expenses related to probes into its mortgage and sales practices.

The S&P financial index .SPSY rose 0.5 percent.

While tax-related costs are expected to weigh on banks’ earnings, they are expected to benefit in the long run from lower tax burden.

Earnings for S&P 500 companies are expected to increase on an average by 11.8 percent in the quarter with profit for financial services companies growing as much, according to Thomson Reuters I/B/E/S.

High dividend stocks may find favor as market headwinds abound

High dividend yield stocks such as telecoms and utilities are looking more tempting as investors become increasingly nervous about the outlook for equities and as U.S. Treasury yields hover near a 10-month low.

The wide spread between the 10-year Treasury note and high-dividend payers, coupled with these stocks’ reputation as a safer play, could tempt investors to move away from high growth names. 

A nuclear test from North Korea on Sunday rattled investors when markets opened on Tuesday after the extended holiday weekend, pushing the yield on benchmark 10-year Treasury notes US10YT=RR to a 10-month low.

Investors typically prize high dividend players in a low rate, low growth environment, as they search for high yielding and stable instruments. 

Fund managers already seem to be picking up some of these stocks. On a sector basis, weekly inflows for utilities were among the strongest, relative to assets under management, at 1.9 percent according to data from Credit Suisse through Sept. 1. 

Stocks in the telecom and utilities sector have some of the highest dividend yields in the S&P 500. Telecom CenturyLink (CTL.N) has a dividend yield of 11.4 percent, top in the index. Utilities FirstEnergy (FE.N) and Southern Co (SO.N) both have dividend yields above 4.5 percent. 

Meckler said investors are now more confident these sectors can compete with the yield on the 10-year at such a low level.

Stubbornly low bond yields can be of concern to equity players because they are forced to take bigger risks as they search for higher returns. They also raise red flags about the health of the economy. 

Yields fell even further on Friday, to 2.016 percent, after New York Fed President William Dudley struck a less hawkish tone about rate hikes, while still defending them, in a Thursday night speech.

S&P 500, Dow end fifth straight month with gains

U.S. stocks advanced on Thursday, with the main indexes posting their fifth consecutive monthly gain. Meanwhile, a rally in biotech shares pushed the Nasdaq Composite into record territory.

Earlier, a pair of economic reports in the morning that highlighted continued improvement in the economy also boosted sentiment on Wall Street.

The Nasdaq Composite COMP, +0.95% notched its first record close since July 26, thanks to a two-day rally in biotechnology stocks. The tech-heavy index added 60.35 points, or 1%, to 6,428.66 and gained 1.3% over the month. The iShares Nasdaq Biotech ETF IBB, +2.78%  rallied 2.8% and posted 4.5% gain in August.

The S&P 500 SPX, +0.57%  closed 14.06 points, or 0.6%, higher at 2,471.64, with nine of the 11 main sectors finishing in positive territory. Health-care stocks led the gains, up 1.7%, followed by solid gains among materials and technology shares, with gains of 0.8% and 0.7%, respectively. The only down sector was telecoms, down 0.3%.

Thursday’s gains helped the benchmark index post its fifth consecutive monthly gain, rising less than 0.1%.

The Dow Jones Industrial Average DJIA, +0.25% added 59.92 points, or 0.3%, to 21,952.35, with 22 of the 30 blue-chip companies closing higher. DuPont US:DD , which gained 1.6%; Pfizer Inc. PFE, +1.41% , up 1.4%; and UnitedHealth Group Inc. UNH, +1.54% , up 1.5%, led the gains. The blue-chip index gained 0.3% over the month and is up 11% year to date.

The S&P has climbed 10.5%, and the tech-heavy Nasdaq has surged 19% since the start of the year.

Low levels of first-time jobless claims suggest the labor market remains robust, while consumer spending — the biggest driver of the economy — picked up in July, thanks to higher income for consumers and low inflation.

The Dollar's Recent Advance Slowed, The Euro Steady

The dollar's recent advance slowed as rate hike expectations were dented. The greenback was up 0.05 percent at 110.015 yen JPY= having gone as high as 110.675 overnight, its strongest in two weeks. 

The euro was steady at $1.1910 EUR= after plumbing a one-week low of $1.1823 overnight. 

The financial markets looked to the U.S. jobs report due at 1230 GMT for further clues on the state of the world’s largest economy. 

Economists polled by Reuters expect U.S. nonfarm payrolls increased by 180,000 jobs in August after surging 209,000 in July and average hourly earnings to have increased 0.2 percent after rising 0.3 percent in July. 

“The wages component of the jobs report will be key. If earnings are to have picked up along with employment, we will see a straightforward reaction with U.S. stocks and yields rising and the dollar being bought,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. 

The dollar index against a basket of six major currencies was 0.1 percent lower at 92.603.The index slipped about 0.2 percent on Thursday and was poised to end 0.1 percent lower on the week in which it hit a 2-1/2-year low of 91.621 on geopolitical tensions before bouncing back. 

In commodities, crude futures fell, partly reversing sharp gains from the previous session, amid ongoing turmoil in the oil industry with nearly a quarter of U.S. refining capacity offline. 

U.S. crude futures CLc1 was down 0.5 percent at $47.01 per barrel. The futures had surged 2.8 percent on Thursday following a steep drop the previous day, during a week in which the hurricane roiled the oil market. 

Gold was near a 9-1/2-month high, supported as the dollar came off its recent highs and by lingering concerns over tensions in the Korean Peninsula.

US STOCKS SNAPSHOT-Dow drops 100 pts on N.Korea missile test

U.S. stocks opened sharply lower on Tuesday, with the Dow losing more than 100 points, as North Korea’s missile test over Japan escalated tensions with the United States, and President Donald Trump warned that “all options are on the table”.

The Dow Jones Industrial Average fell 123.16 points, or 0.56 percent, to 21,685.24. The S&P 500 lost 15.85 points, or 0.648463 percent, to 2,428.39. 

The Dow e-minis were down 108 points, while the Nasdaq 100 e-minis were down 46 points.

The Nasdaq Composite dropped 53.68 points, or 0.85 percent, to 6,229.34.

Dow e-minis were down 108 points, or 0.5 percent, with 51,360 contracts changing hands.

S&P 500 e-minis were down 13.25 points, or 0.54 percent, with 363,037 contracts traded.

Nasdaq 100 e-minis were down 46 points, or 0.79 percent, on volume of 67,545 contracts.

U.S.-listed shares of gold miners including Kinross Gold and Harmony Gold were up about 5 percent in premarket trading. 

Dow component Nike fell 2.31 percent after Morgan Stanley cut its price target by $4 to $64. 

Finish Line plunged about 29 percent after the sporting goods retailer cut its full-year profit forecast and adopted a poison pill. 

Electronics retailer Best Buy were down about 1 percent despite raising its full-year revenue forecast.

Dow breaches 22,000 powered by Apple rally

The Dow Industrials breached the 22,000 mark for the first time ever on Wednesday, helped by a rally in Apple's shares.

The Dow Jones Industrial Average .DJI rose 31.71 points, or 0.14 percent, to 21,995.63. The S&P 500 .SPX gained 2.02 points, or 0.08 percent, to 2,478.37. The Nasdaq Composite .IXIC added 30.28 points, or 0.48 percent, to 6,393.22.

Wall St. flat as earnings from some big names disappoint

U.S. stocks were little changed in early trading on Thursday after the S&P and the Nasdaq touched all-time highs as earnings from some big names disappointed.

Qualcomm (QCOM.O) fell 4.4 percent after the chipmaker's forecast missed estimates. 

Cigarette maker Philip Morris (PM.N) was down 2.8 percent after its quarterly profit came in below expectations. 

Home Depot (HD.N) was off 2.7 percent and weighed on the Dow and the S&P. 

Still, overall earnings continue to beat expectations which, along with a rally in technology shares, helped all three major indexes to close at a record high on Wednesday. 

Analysts are estimating an 8.7 percent rise in second-quarter earnings and a 4.6 percent increase in revenue for the S&P 500 companies from a year earlier, according to Thomson Reuters I/B/E/S. 

Visa (V.N), eBay (EBAY.O), Capital One Financial (COF.N) are due to report results after the closing bell.

The S&P 500 tech sector .SPLRCT, which has been the best performing sector this year, broke its previous record closing high that had held since March 2000 in the midst of the dot-com and Y2K tech stocks bubble. 

Microsoft (MSFT.O) will report results after the market close. Other major tech names such as Alphabet (GOOGL.O), Facebook (FB.O) and Amazon (AMZN.O) are due to report results next week.

Asian shares gain ahead of Yellen, shrug off Trump controversy

Asian shares gained on Wednesday after Wall Street managed to weather a fresh twist in the controversy over U.S. President Donald Trump's alleged connection with Russia, while investors looked ahead to Federal Reserve Chair Janet Yellen's comments.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.3 percent. Japan's yen-sensitive Nikkei slid 0.4 percent on the yen's gains but MSCI's dollar-denominated Japan index gained 0.5 percent. 

European shares are expected to rise, with spread-betters looking to gains of 0.3 percent in Germany's DAX and Britain's FTSE, and a 0.2 percent rise in France's CAC at the opening. 

U.S. stocks took a brief tumble after emails disclosed Trump's eldest son welcomed help from a Russian lawyer for his father's 2016 election campaign against Hillary Clinton. 

But by the closing bell, Wall Street shares had clawed back their losses. The euro vaulted to a 14-month high of $1.14895 in Asian trade.

U.S. shares were helped in part as the Senate announced a two-week delay to its August recess to allow more time to tackle a measure that would repeal key parts of Obamacare, as well as pursue other legislative priorities. 

Still, it remained unclear whether U.S. Senate Republicans have the votes to pass the measure or even what form it would finally take. 

On the other hand, the dollar failed to recover after the damage suffered from the new twist in the Trump campaign's alleged links with Russia.

The dollar also lost steam against the yen, which had been under renewed pressure following Friday's bond-buying by the Bank of Japan which highlighted divergent monetary polices between the two countries. 

The U.S. currency dropped 0.4 percent to 113.46 yen, slipping from a four-month high of 114.495 yen touched on Tuesday. 

The Canadian dollar stood at C$1.2907 per dollar, near Friday's 10-month peak of C$1.2860 as investors brace for a likely rate hike by the Bank of Canada, its first tightening since 2010, later in the day.

Fed minutes suggest increasing tensions on inflation shortfall

Federal Reserve policymakers were increasingly split on the outlook for inflation and how it might affect the future pace of interest rate rises, according to the minutes of the Fed's last policy meeting on June 13-14 released on Wednesday.

The details of the meeting, at which the U.S. central bank voted to raise interest rates, also showed that several officials wanted to announce a start to the process of reducing the Fed's large portfolio of Treasury bonds and mortgage-backed securities by the end of August but others wanted to wait until later in the year.

The committee questioned why financial conditions had not tightened despite recent rate rises and a few said equity prices were elevated.

U.S. stock prices were up slightly at the close of trade while yields on U.S. government debt dipped. The dollar was little changed against a basket of currencies.

Last month's 8-1 vote to lift the benchmark interest rate another quarter percentage point, its second this year, signalled the Fed's confidence in a growing U.S. economy and the eventual inflationary effects of low unemployment.

In a press conference at the time, Fed Chair Janet Yellen described a recent decline in inflation as temporary and the central bank kept its forecast of one more rate rise this year and three the next.

Some policymakers since then, however, have shown increasing worry about the Fed's struggle to get inflation back to its 2 percent objective.

The Fed's preferred measure of underlying inflation slipped again in May to 1.4 percent, the Commerce Department reported on Friday, and has run below target for more than five years.

In the minutes, a few policymakers also said the inflation weakness made them less comfortable with the current implied path of rate hikes.

Stock futures higher as oil prices rebound

U.S. stock index futures were higher as oil prices rebounded, while investors awaited economic data for a reading on the health of the economy.

Oil rose for a third straight session, as speculators took advantage of last week's drop to seven-month lows, although a relentless increase in U.S. supply and little evidence of a widespread drop in global inventories capped gains.

The recent drop in oil prices have spurred concerns about low inflation, which stubbornly remains below the Federal Reserve's 2 percent target rate.

The central bank raised rates this month for the second time this year and is expected to raise it again. Futures imply only a 50 percent chance of another rate hike by December.

Fed Chair Janet Yellen speaks on London on Tuesday and investors will look for any clues to the rate outlook, after mixed views from other Fed officials in recent days.

On Monday, San Francisco Fed President John Williams said the Fed needs to raise rates gradually or the economy runs the risk of overheating.

Data is expected to show new orders for key U.S.-made capital goods likely rose slightly in May, with non-defense orders, a closely watched proxy for business spending plans, probably rising 0.3 percent. The report is due at 8:30 a.m. ET (1230 GMT).

U.S. stocks ended higher on Friday after a last-minute trading spike, helped by gains in technology sector, which offset weakness in financial stocks, sending the Nasdaq higher and giving it a weekly gain for the first time in three weeks. 

Shares of Portola Pharmaceuticals (PTLA.O) were up 4 percent at $58.32 in premarket trading, after the FDA, on Friday, approved a new oral blood-thinner made by the company.

Fed raises rates, unveils balance sheet cuts in sign of confidence

The Federal Reserve raised interest rates on Wednesday for the second time in three months and said it would begin cutting its holdings of bonds and other securities this year, signalling its confidence in a growing U.S. economy and strengthening job market.

In lifting its benchmark lending rate by a quarter percentage point to a target range of 1.00 percent to 1.25 percent and forecasting one more hike this year, the Fed seemed to largely brush off a recent run of mixed economic data.

The U.S. central bank's rate-setting committee said the economy had continued to strengthen, job gains remained solid and indicated it viewed a recent softness in inflation as largely transitory.

The Fed also gave a first clear outline on its plan to reduce its $4.2 trillion (3.29 trillion pounds) portfolio of Treasury bonds and mortgage-backed securities, most of which were purchased in the wake of the 2007-2009 financial crisis and recession.

It expects to begin the normalization of its balance sheet this year, gradually ramping up the pace. The plan, which would feature halting reinvestments of ever-larger amounts of maturing securities, did not specify the overall size of the reduction.

The initial cap for the reduction of the Fed's Treasuries holdings would be set at $6 billion per month, increasing by $6 billion increments every three months over a 12-month period until it reached $30 billion per month.

For agency debt and mortgage-backed securities, the cap will be $4 billion per month initially, rising by $4 billion at quarterly intervals over a year until it reached $20 billion per month.

U.S. stocks edged lower and prices of U.S. Treasuries pared gains after the Fed's policy statement. The dollar was largely flat against a basket of currencies after reversing earlier losses, while the price of gold fell.

Wall St. opens slightly higher; Thursday's events eyed

U.S. stocks opened slightly higher on Wednesday but gains were limited as investors stayed on the sidelines ahead of Thursday's major political and economic events.

Britain's general election, the European Central Bank's policy meeting and former FBI Director James Comey's testimony before a Senate panel could all weigh on investor sentiment.

Comey's first public appearance since he was fired by U.S. President Donald Trump might shed more light on a probe by the FBI into alleged Russian meddling in last year's U.S. presidential election.

His testimony could dampen already flagging momentum for Trump's legislative agenda of rolling back healthcare reforms and overhauling the tax code.

The closely-fought election in Britain is also keenly watched, with one poll showing Prime Minister Theresa May increasing her parliamentary majority, while another suggesting a neck-and-neck race with the Labour Party.

"The impact of Comey's statement really depends on what he says, and anyway these hearings are long and dragged out. The UK elections could have an impact if there is a hung parliament and the various polls are adding a level of uncertainty."

The ECB will also hold its policy meeting on Thursday and is expected to reiterate its plan to extend the money-printing scheme at least until the end of the year.

Safe havens turned attractive, with gold XAU= steadying near seven-month highs and U.S. 10-year Treasury yields hovering near lows not seen since the November U.S. election.

Futures rise on Trump tax talk; earnings in focus

U.S. stock index futures rose on Tuesday, building on a day-earlier rally as investors assessed quarterly earnings, while awaiting a major tax plan from President Donald Trump. 

* Trump promised last week to make "a big tax reform and tax reduction" announcement on Wednesday. The President has directed his aides to move quickly on a plan to cut the corporate income tax rate to 15 percent from 35 percent, a Trump administration official said on Monday.

* Trump also indicated his openness to delaying his push to secure funds for building a wall along the U.S.-Mexico border, potentially eliminating a sticking point as lawmakers worked to avoid a looming shutdown of the federal government.

* Investor sentiment took a turn over the weekend after centrist and pro-European Union candidate Emmanuel Macron won the first round of the French presidential election.

* Global stocks, including Wall Street, rallied on the outcome of the vote on Monday, while investors prepared for a busy week of corporate earnings.

* Results from corporate heavyweights, including McDonald's (MCD.N) and Caterpillar (CAT.N), could determine whether the positive momentum in the market will continue on Tuesday.

* The Conference Board is expected to release a reading of its consumer confidence index for April at 10:00 a.m. ET (1400 GMT). A report on home prices is also due at 10:00 a.m. ET.

* Express Scripts (ESRX.O) tumbled nearly 14 percent premarket after announcing that its biggest customer, Anthem (ANTM.N), was unlikely to renew its contract, which ends in 2019.

* Biogen (BIIB.O) jumped nearly 5 percent to $290 after the drugmaker reported quarterly revenue that beat analysts' expectations.

* Straight Path (STRP.N) jumped nearly 6 percent to $117.90 after saying it received a $104.64 per-share all-stock buyout offer from a "multi-national telecommunications company", topping AT&T's (T.N) $95.63 per share offer.

Futures rise as earnings take center stage

U.S. stock index futures rose on Wednesday, giving investors a reprieve a day after Wall Street lost its footing following weak results from some corporate heavyweights.

* Earnings will continue to be in the spotlight. Morgan Stanley (MS.N) reported a surge in quarterly profit, rounding up earnings for the big U.S. banks. Its shares rose nearly 2 percent in premarket trading.

* Key companies scheduled to release results after markets close on Wednesday include Dow component American Express (AXP.N), eBay (EBAY.O) and Qualcomm (QCOM.O).

* Tepid quarterly numbers from Goldman Sachs (GS.N) and Johnson & Johnson (JNJ.N) raised worries about pricey market valuations and pulled the major U.S. stock indexes lower on Tuesday.

* Overall profits of S&P 500 companies are estimated to have risen 10.7 percent in the latest quarter - the best since 2011, according to Thomson Reuters I/B/E/S.

* Despite some weak spots, earnings seem to be promising. Of the 45 S&P 500 companies that have released results so far, nearly 76 percent have topped earnings estimates, according to Thomson Reuters I/B/E/S.

* The dollar, which has been beaten down by growing concerns about President Donald Trump's economic agenda, rose on Wednesday after U.S. Treasury Secretary Steven Mnuchin said the president was not trying to talk down the strength of the currency.

* While no top-tier economic data is due on Wednesday, investors will keep an eye on the Federal Reserve's Beige Book, which will give a glimpse into economic conditions across the United States. The data is due at 2:00 p.m. ET (1800 GMT).

* Shares of IBM (IBM.N) sank more than 5 percent to $161.33 after the company reported a bigger-than-expected decline in revenue for the first time in five quarters.

Investors Keeping An Eye On Quarterly Earnings

At 9:41 a.m. ET (1341 GMT), the Dow Jones Industrial Average was up 67 points, or 0.33 percent, at 20,520.25, the S&P 500 was up 5.07 points, or 0.22 percent, at 2,334.02 and the Nasdaq Composite was up 17.33 points, or 0.3 percent, at 5,822.48.

Investors are also keeping an eye on quarterly earnings to justify pricey valuations of stocks. The first quarter is expected to be strong, with earnings of S&P 500 companies estimated to have risen 10.4 percent.

Companies set to report results on Monday include Netflix and United Continental, which became a subject of international outrage for dragging a passenger from its plane.

The healthcare index fell slightly, weighed down by a 10 percent fall in Incyte Corp and a 4 percent drop in Eli Lilly. The U.S. FDA declined to approve a drug for rheumatoid arthritis made by the two companies.

Alere jumped 16 percent to $49.15 after Abbott agreed on Friday to buy the company in a deal valued at about $5.3 billion.

Advancing issues outnumbered decliners on the NYSE by 1,826 to 833. On the Nasdaq, 1,471 issues rose and 860 fell.

The S&P 500 index showed four 52-week highs and no lows, while the Nasdaq recorded 13 highs and 11 lows. 

Wall Street edges higher as tech, financials gain

U.S. stocks opened higher on Monday, rising for the first time in four days, helped by gains in technology and financial stocks.

However, the gains were kept largely in check by rising geopolitical tensions and weak U.S. retail sales data, which was released on Friday.

President Donald Trump's national security adviser said the United States, its allies and China were working on a range of responses to North Korea's latest failed ballistic missile test.

The S&P 500 technology sector's 0.44 percent gain provided the biggest boost to the broader index, followed by a 0.3 percent rise in financials.

The two sectors had taken a beating last week as investors loaded up on safe-havens amid geopolitical worries.

Gold prices hit five month highs on Monday, while the dollar fell to a five-month low as the safe yen rose.

Trading volumes are likely to be light, with most European financial markets closed for the Easter holiday.

Wall St. opens lower amid geopolitical jitters

U.S. stocks opened slightly lower on Tuesday as investors sought shelter in safe-haven assets such as gold amid mounting geopolitical tensions in Syria and North Korea.

The Dow Jones industrial average .DJI was down 26.71 points, or 0.13 percent, at 20,631.31, the S&P 500 .SPX was down 4.43 points, or 0.187938 percent, at 2,352.73 and the Nasdaq composite .IXIC was down 9.85 points, or 0.17 percent, at 5,871.07.