Bonds & Stocks
Dip buyers drove a rebound in stocks after a February slide, though sentiment remained fragile with long-promised tariffs on top US trading partners scheduled to take effect Tuesday. The S&P 500 rose 0.2%. The Nasdaq 100 climbed 0.5%. The Dow Jones Industrial Average added 0.2%. The yield on 10-year Treasuries rose four basis points to 4.25%. The Bloomberg Dollar Spot Index fell 0.6%.
Economy
President Donald Trump is on the verge of slapping new tariffs on Canada and Mexico while doubling a levy on China, moves that would dramatically expand his push to revive domestic manufacturing, tap new revenues and rebalance ties with the biggest US trading partners.
World
European defense stocks advanced, adding about $30 billion in market capitalization, on optimism around higher spending by the region. France’s CAC 40 Index briefly surpassed its May record closing high, while automakers rallied after comments that they would get some leeway in reaching emissions targets.