US stocks erase early gains. Evergrande missed payments to 2 banks on Monday

Positive moods can be observed in Europe where the indices from the old continent advanced over 1%, however the situation looks a bit different on Wall Street. After the opening of the cash session, three major US indices erased most of the early gains and for a moment even fell into the red territory. Currently US stocks again rebounded slightly, but the bulls have a clear problem with "catching up" with Europe. The Dow Jones (US30) index rose only 0.20% probably due to ongoing concerns regarding China's Evergrande.

According to recent Bloomberg reports, Evergrande missed payments to two banks on Monday. Another important day is Thursday, when the developer with $ 305 billion of liabilities should pay $ 83.5 million interest to its creditors.

This year alone, Evergrande must pay off coupon payments worth $ 669 million. Source: Bloomberg

US30 erased most of the early gains after the US open. At the moment the 50-hour moving average acts as a key resistance. Source: xStation5