Stocks continued their steady climb higher on Monday as the U.S. and China restarted trade talks and the White House clashed with California over sending military officers to quell civilian protests.
“There have been plenty of catalysts supporting the broader market’s recovery from the correction lows set last month,” Adam Turnquist, chief tactical strategist at LPL Financial, said in a note. “First quarter earnings season came in much better than feared, and most companies unexpectedly did not pull forward guidance. President Trump’s announcement of a 90-day pause on most reciprocal tariffs eased fears of an escalating trade war, while continued progress in trade negotiations further supported the risk-on rally. Steady retail buying and a slow return of institutional demand also supported the rebound.”
Yields on the 10-year and 30-year Treasuries fell.
