US Indexes lift on Monday, find confidence amidst slide

• Wall Street closes higher as lawmakers work to stifle Trump trade tariff threats.
• The positive Markit, ISM PMIs lending a hand as equities gain some confidence.

Wall Street found some much-needed support on Monday following the US President's recent enflaming remarks about instigating a trade war with major trade partners to the US. The Dow Jones Industrial Average (DJIA) and Standard & Poor's 500 (S&P) halted recent declines as traders digested the news that Congressional lawmakers and key members of the Republican party are working hard to talk President Trump down from his aggressive statements and eliminate or outright block the President's planned tariffs on steel and aluminum imports.

US Data added to the major indexes bump upwards, with the ISM Non-Manufacturing, Markit Services, and Markit Composite PMIs all printing in the green. The ISM Non-Manufacturing PMI came in at 59.5, above the forecast 59.0, a smaller contract from the previous 59.9 than expected, with the Markit Composite PMI printing 55.8, very close to the previous month's 55.9 and a clean beat of the anticipated 55.5. Bond yields also lifted slightly during the New York session with the 10-year Treasuries climbing from 2.82% to 2.89%, and 2-year yields rose from 2.21% to 2.24%.

After declining to a March low of 24,559.6, the DJIS has rebounded and is set to recover the 25,000.0 handle, with the S&P bouncing from last week's low of 2,647.68 to trade near the 50.0 Fibo retracement of 2,717.41. The DJIA and S&P are still off their January highs of 26,705.6 and 2,877.43 respectively.