Headlines discussed at LNWM’s Monday morning briefing:

— The S&P 500 hit a new record high on optimism about growth in corporate earnings, strong economy.
— The latest US-China trade talks were unfruitful; reciprocal tariffs of $16 billion in goods went into effect.
— Emerging market equities retreated, on concerns about US-China trade war, weaker currencies.
— The US dollar fell as Fed affirmed moderate pace of US rate interest hikes; next one likely in Sept.
— US crude oil prices ended a 7-week losing streak, on signs that Iran sanctions are reducing supply.

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