US Stock Markets Today: S&P 500, Dow Jones Rise Amid Progress In Trade Negotiations

S&P 500 and Dow Jones Industrial Average began the shortened week higher amid signs of progress in the US' trade negotiations with a number of trading partners. This comes after the S&P 500 hit a record high at the end of last week.

The S&P 500 rose over 0.33%, whereas the tech-heavy Nasdaq Composite and Dow rose 0.48% and 0.52%, respectively.

Stocks on Wall Street had climbed to all-time highs on Friday, capping a week that saw tensions in the Middle East cool off and signs that the US economy is holding up amid subdued inflation.

In the early minutes of trading, six of the 11 sectoral indices were trading in green. Communication services and financial sector were leading the surge, whereas real estate and energy sectors were in negative.

Oracle Corp. shares were up over 5.96%. Warner Bros. Discovery Inc., Goldman Sachs Group., Walt Disney Co., JPMorgan Chase & Co. were among the other key gainers as they saw a jump of over 1%. On the other hand, Nike Inc. Boeing Co., Apple Inc. and Amazon.com Inc, were among the stocks that slipped in early trading.

“Markets will stay glued to US economic updates – especially from the jobs sector – in the week ahead, though for as long as there are no major escalations again in the Middle East or in the trade war, you'd think stock markets may not suffer much on any macro data,” Forex.com's Fawad Razaqzada told Bloomberg.

As the US market opened, spot gold was trading 0.21% higher at $3,281.13 an ounce. Crude oil prices fell, with the Brent trading 0.13% lower at $67.68 per barrel.

However, investors should expect further market volatility as the year progresses, Cameron Dawson, chief investment officer at NewEdge Wealth told CNBC.

The Bloomberg Dollar Index was little changed, with the British Pound felling 0.2% to $1.3687, while the Japanese yen rose 0.2% at 144.40 per dollar.

Bitcoin, the largest traded cryptocurrency, rose 0.4% to $107,863.89.