US stocks rise moderately in premarket trade

Monday, 11. February 2019 10:36

Traders dumped safe haven assets on Monday amid a shift to risk aversion as China came back online after a week-long holiday. Stocks jumped in the world's second-largest economy, spreading a wave of optimism even though retail sales during the Lunar New Year festivities grew at the slowest pace since 2005, when measuring started. Wall Street posted gains before the bell and Treasuries declined, pushing yields higher.

Market participants are on the lookout for more information about trade talks between the United States and the government in Beijing and the reported failure of Republicans and Democrats in Congress to agree spending levels for border security. The deadlock may lead to another government shutdown, as current financing expires on February 15.

The Dow Jones Industrial Average advanced 0.33%, the S&P 500 was up 0.34% in premarket and the Nasdaq 100 index increased 0.47%. The euro slipped 0.08% to $1.13134 and rose 0.23% to £0.87728 at 4:34 am ET. The pound was 0.3% in the red, buying $1.28967 and the dollar climbed 0.38% to ¥110.2165.

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