U.S. stocks traded in narrow ranges Monday as investors awaited news from the renewed trade talks between Washington and Beijing, as well as key inflation data later in the week. on the D1 chart, the Dow Jones Industrial Average dropped 45 points earlier today, or 0.1%, and the S&P 500 index slipped 3 points, or 0.1%, while the NASDAQ Composite gained 30 points, or 0.2%. The main averages on Wall Street have continued to gain after ending higher on Friday, fueled by a stronger-than-anticipated U.S. labor market reading for May, although risk appetite was rattled by signs of steadily increasing civil unrest in Los Angeles amid protests against President Donald Trump’s immigration policies. Citigroup has raised its year-end S&P 500 target to 6300, with the index having closed above 6000 on Friday for the first time since Feb. 21, driven by "a marginally more constructive fundamental view and an expectation for persistency of the current valuation backdrop." 

U.S.-China trade talks 

Top White House officials are meeting their Chinese counterparts in London, in an attempt to reach an agreement and resolve a bitter trade dispute between the world’s biggest economies. U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will meet with top-level Chinese officials, Trump said last week. China’s foreign ministry confirmed over the weekend that vice premier and top trade negotiator He Lifeng will be in the U.K. this week, and that trade talks with Washington will take place. Both sides have been at odds over Trump’s threat of elevated tariffs and the supply of rare earth minerals from China, despite a preliminary agreement reached in Geneva last month that included a temporary pause and lowering of punishing tit-for-tat levies. Trump’s so-called "reciprocal" duties on China are now on hold until August 12. Data released earlier Monday showed that China’s export growth decelerated to a three-month low in May as the country grappled with U.S. tariffs that weighed on shipments.

Key inflation data awaited  

The focus this week will be squarely on key consumer price index inflation data, due Wednesday, for more cues on the world’s biggest economy,  followed by the producer price index on Friday. The print is expected to show inflation picking up slightly in May amid higher electricity prices and trade tariffs, with the annual figure seen rising to 2.5% from 2.3% the prior month. Investors are looking to more U.S. economic readings to gauge the impact of Trump’s policies on growth, especially the uncertainty surrounding trade policies. 

Apple hosts annual developers conference 

On the corporate front, Apple will host its annual Worldwide Developers Conference later today(Monday), which is expected to help outline the iPhone maker’s strategy for the coming months as it grapples with a protracted decline in its share price. The event typically pulls away the veil on some of Apple’s software updates due to be made available later this year. Bloomberg News has reported that Apple will likely debut a new numbering regime for its operating system, shifting from a sequential series to one based on the year. Apple’s iOS 26, for example, is reportedly tipped to include major design changes, but little is currently known beyond potential improvements to the artificial intelligence-enhanced Apple Intelligence service.

Elsewhere, entertainment giant Warner Bros Discovery announced plans to split into two public companies by next year, while drugmaker Merck said its drug met the main goal of reducing a type of cholesterol in two late-stage studies. Baker Hughes said it will sell its precision sensors and instrumentation product line to aerospace and defense parts manufacturer Crane for $1.15 billion, as the oilfield services provider looks to optimize its portfolio.

Crude adds to recent gains

Oil prices gained slightly Monday, adding to last week’s gains as traders watched for news from the U.S.-China trade talks in London. Brent futures gained 0.2% to $66.62 a barrel, and U.S. West Texas Intermediate crude futures rose 0.2% to $64.70 a barrel. Brent advanced 4% and WTI gained over 6% last week, their first weekly gain in three weeks.The prospect of a U.S.-China trade deal have boosted some investors’ risk appetite and supported oil prices amid hopes a deal will boost economic growth and thus demand for energy.

Credit: investing.com