US markets ended July on a positive note albeit the benchmark indices closed off their session highs. Equity markets initially rallied following a Bloomberg report that the US and China were holding trade talks, though gave up some of the earlier gains after news that both countries made little progress in resolving trade disputes. - Dow up +108-points or +0.43% , with 3M Company (up +3.51%), Pfizer Inc (+3.47%), Caterpillar Inc (+2.9%) and the leading index constituents. The broader S&P500 +0.49%, with Industrials (up 2.1%) and Healthcare (+1%) leading eight of the eleven primary sectors higher. The technology centric NASDAQ rose +0.55%, arresting a three session slide that saw the index lose 5.4%. The Dow and S&P500 settled with their best monthly gains since since January, up +4.7% and +3.6% respectively. The NASDAQ logged its fourth consecutive monthly advance (up +2.15%). Federal Reserve policy makers began a two-day meeting, with interest rates expected to remain on hold when the central bank makes their announcement tomorrow morning AEST.
