U.S. equities and stock exchange traded funds were stuck in mixed action Monday as hurdles on Capitol Hill stalls President Donald Trump’s policy agenda and traders wait on corporate results.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEARCA: SPY), iShares Core S&P 500 ETF (NYSEARCA: IVV) and Vanguard 500 Index (NYSEARCA: VOO), were 0.1% lower Monday.
Observers kept an eye on Washington where Jared Kushner answered questions before a Senate committee as the Trump administration’s agenda hits a roadblock, Bloomberg reports.
Investors are also wary of further surprises out of Washington as the administration faces a widening Russia probe. Kushner confirmed four contacts with Russians during his father-in-law’s presidential campaign and the transition but described it as unmemorable.
The ongoing drama, along with the failed attempt to repeal the Affordable Care Act or so-called Obamacare, have stalled the pro-growth economic agenda that President Trump has promised.
Meanwhile, the earnings season is still in full swing, with market’s slipping in early trading Monday on Johnson & Johnson (NYSE: JNJ) after South Korea’s Samsung Bioepis said it started U.S. sales of the company’s top selling drug Remicade, Reuters reports.