Investing.com – Wall Street was modestly higher on Monday as investors wait for news from the highly anticipated North Korea and U.S. summit on Tuesday.
The S&P 500 was up five points or 0.20% to 2,784.50 as of 9:42 AM ET (13:42 GMT) while the Dow composite increased 51 points or 0.21% to 25,368.49 and tech heavy NASDAQ Composite fell 14 points or 0.19% to 7,660.19.
U.S. President Donald Trump is preparing for a historic summit with Kim Jong Un in Singapore on Tuesday. Officials on both sides have been to discuss what denuclearization would be, but so far there is no indication on what the outcome was.
On Monday Secretary of State Mike Pompeo told reporters that 'denuclearization is the only outcome the U.S. will accept.”
In other political news, trade tensions remained high after Trump refused to sign onto a G7 declaration that called for tariff reductions, lashing out at key U.S. allies.
Luxury car maker Tesla (NASDAQ:TSLA) was among the top gainers, surging 2.89% amid news that it would add self-driving technology to its cars by August. Amazon.com (NASDAQ:AMZN) inched up 0.32% while semiconductor Micron Technology Inc (NASDAQ:MU) gained 1.61% and Netflix (NASDAQ:NFLX) rose 1.22%
Elsewhere Microsoft (NASDAQ:MSFT) fell 0.87% while Intel (NASDAQ:INTC) was down 0.46% and McDonald’s Corporation (NYSE:MCD) lost 0.56%.
In Europe stocks were mixed. Germany’s DAX fell three points or 0.03% while in France the CAC 40 increased five points or 0.10% and in London, the FTSE 100 was up 33 points or 0.43%. Meanwhile the pan-European Euro Stoxx 50 gained 15 points or 0.45% while Spain’s IBEX 35 rose 89 points or 0.92%.
In commodities, gold futures rose 0.12% to $1,304.20 troy ounce while crude oil futures decreased 1.03% to $65.06 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.09% to 93.47.