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Stock markets rise slightly ahead of Trump-Kim meeting

Stock markets rise slightly ahead of Trump-Kim meeting

June 12th, 2018 by Associated Press in Business

Traders Gregory Rowe, center, and Robert Charmak work on the floor of the New York Stock Exchange, Monday, June 11, 2018. Stocks are opening higher on some corporate deal news. (AP Photo/Richard Drew)

NEW YORK (AP) — U.S. and global markets rose modestly on Monday, as investors made preparations for President Donald Trump's meeting with North Korean leader Kim Jong Un in Singapore.

European investors also focused on Italy's new government, and its future using the euro.

The Dow Jones industrial average rose 5.78 points, or less than 0.1 percent, to 25,322.31. The Standard & Poor's 500 index rose 2.97 points, or 0.1 percent, to 2,782.00 and the Nasdaq composite rose 14.41 points, or 0.2 percent, to 7,659.93.

Investors spent most of Monday waiting for Tuesday's meeting between Trump and Kim, aimed at settling a standoff over the North's nuclear arsenal. North Korea has reportedly said it is willing to deal away its entire nuclear arsenal if the United States provides it with reliable security assurances and other benefits. However, many said Kim's government is unlikely to give up weapons that help guarantee its survival.

If successful, the meeting would lower geopolitical tensions in an area that involves three of the world's largest economies: South Korea, Japan and China.

The Federal Reserve will start a two-day meeting on interest rates Tuesday, wrapping up on Wednesday. Investors expect the nation's central bank to raise interest rates from their current level of 1.75 percent to 2 percent, but most attention will be on how many rate hikes Fed officials are considering doing later this year.