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Concerns over trade on backburner after strong U. Oil drops after OPEC stresses the need to ensure supply. P 500 strengthened for a second day. Mark Hackett, chief of investment research at Nationwide Funds Group.
Investors are in a broad risk-on mood after impressive U. Friday, which provided an upbeat end to a week that was otherwise dominated by the threat of another euro-area crisis. Omar Aguilar, chief investment officer for equities at Charles Schwab Investment Management, said by phone. The jobs report on Friday gave a lot of people confidence that the U. Attention may yet turn back to trade, however.
66 a barrel after an OPEC committee stressed the need to ensure supplies can meet growing demand, adding to speculation the group will phase out its production cuts. Reserve Bank of Australia monetary policy decision is out Tuesday. Tesla holds its annual shareholder meeting also Tuesday. May for the first time in four months, indicating the economy is strengthening after a first-quarter slowdown, economists forecast. Reserve Bank of India rate decision on Wednesday. Australia GDP also out on Wednesday. On Thursday, Japanese Prime Minister Shinzo Abe meets with U.