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07:23, 12-Jun-2018
US stocks close higher ahead of Kim-Trump summit
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US Stocks closed higher on Monday as investors awaited the hotly anticipated meeting between top leader of the Democratic People's Republic of Korea (DPRK) Kim Jong Un and US President Donald Trump in Singapore.
The Dow Jones Industrial Average increased 5.78 points, or 0.02 percent, to 25,322.31. The S&P 500 increased 2.97 points, or 0.11 percent, to 2,782.00. The Nasdaq Composite Index rose 14.41 points, or 0.19 percent, to 7,659.93.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, June 11, 2018. /VCG Photo
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, June 11, 2018. /VCG Photo
The summit between Kim and Trump is the first between the incumbent leaders of the two countries since the end of the 1950-53 Korean War.
Trump kept open the possibility of ensuing meetings with Kim following the one in Singapore, which he said will hopefully start "something big."
However, concerns surrounding trade relations between the US and other nations, including its allies, are likely to continue to weigh on investor sentiment as no major economic data is due out on Monday, experts said.
The annual Group of Seven (G7) summit concluded over the weekend resulted in Trump refusing to endorse the joint G7 statement that called for a reduction of tariffs, sparking tensions between him and the leaders of the rest of the bloc.
US stocks posted solid gains last week as investor sentiment was lifted by a batch of positive corporate news and economic data.
Source(s): Xinhua News Agency