Bonds & Stocks
Wall Street traders bracing for a deluge of corporate earnings and key economic data sent stocks higher on Monday as they waited for more insights on President Donald Trump’s trade war. A fifth straight advance in the S&P 500 is the longest since November.
Economy
President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home. Since the US raised levies on China to 145% in early April, cargo shipments have plummeted, perhaps by as much as 60%, according to one estimate.
World
China has asserted sovereignty over an uninhabited reef in the South China Sea by planting a flag, according to state media, setting the stage for an escalation of tensions with the Philippines over the disputed area.