Stock market today: Asian stocks drift after Wall Street closes another winning week
Asian stocks are mostly lower following the weekend release of weak China lending data. U.S. futures were mixed and oil prices fell. There were reports the Biden administration planning to raise tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China. The S&P 500 rose 0.2% Friday. The Dow Jones Industrial Average gained 0.3%, and the Nasdaq composite edged down by less than 0.1%. Stocks had been on track for bigger gains in the morning but regressed following a discouraging report on U.S. consumer sentiment. The report suggested U.S. households are raising their expectations for inflation. That helped Treasury yields tick higher ahead of next week’s highly anticipated updates on inflation.