Stocks mixed after China-US trade talks show progress

Stock markets were dimmed Monday after trade discussions between China and the U.S. wrapped up with officials claiming progress. The cost of oil kept climbed to its highest level this season on the rear of enhanced U.S. economic data.

Britain’s FTSE 100 climbed 0.1% to 7,451, although the DAX in Germany fell 0.3% to 11,968. The CAC 40 in France edged up 0.1% to 5,480. Wall Street looked set to get a gentle open, with the future contract for the Dow down 0.3percent at 26,317 while that for the S&P 500 edged 0.1% lower to 2,892.

This was the start to another week of uncertainty across the planned divide in the European Union of Britain.

Talks to jumpstart strategies for the Brexit were expected to restart before the deadline of Friday for leaving the EU. The opposition Labour Party is optimistic that the nation’s political impasse could be solved, its enterprise minister Rebecca Long-Bailey said.

In Asia, Japan’s benchmark Nikkei 225 index slipped 0.2% to 21,761.65 along with the Shanghai Composite index clawed back losses to edge 0.1% reduced, ending at 3,244.81. South Korea’s Kospi was nearly unchanged at 2,210.60, whereas Hong Kong’s Hang Seng index added 0.4percent to 30,049.94. India’s Sensex shed 0.3percent to 38,754.38.

China’s official news agency said Sunday that trade talks with the U.S. in Washington a week”reached new progress” It stated residual issues will be dealt with through”various effective ways” but didn’t elaborate on where or when further discussions will occur. It said three-day discussions that ended Friday coped with issues involving technology transfer, intellectual property rights protection, non-tariff measures, agriculture as well as enforcement.

Beijing and Washington are working to end a standoff over Beijing’s industrial and engineering policies which has shaken financial markets and darkened the entire world economic outlook.

White House press secretary Sarah Sanders said in an announcement Friday that”considerable work stays” and both sides would be in constant contact.

The talks come against the background of a worldwide economy, however Wall Street last week logged its greatest winning streak in a year and a half. A strong rebound in selecting eased worries that the U.S. economy is slowing down too aggressively, helping keep dealers at a buying mood.

Investors will next look to business earnings reports, which start to be published from the U.S. next week.

ENERGY: Powerful U.S. jobs information fostered expectations for petroleum demand, pushing benchmarks to their highest level this year. It gained 1.6% to settle at $63.08 a barrel on Friday. Brent crude, the worldwide standard, added 39 cents to $70.73 per barrel. It added 1.4% to close at $70.34 on Friday.