* S&P, Nasdaq modestly lower; Dow about flat; small caps gain
* Comm svcs weakest major S&P sector; industrials leads gainers
* Dollar dips; crude, gold gain; US 10Y T-note yield ~0.78%
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DOW INDUSTRIALS: HOLDING PATTERN (1041 EDT/1441 GMT)
The Dow Industrials have kicked off the week in muted fashion. It's up just 0.1% on
Although early still, the blue-chip average is roughly flat on the day, but is on pace to
trade in its tightest weekly range as a percentage of the prior week's close since September
2017. Therefore, this holding pattern is not likely to last long.
Chart hurdles now stand at last week's high of 28,957.90, and the resistance line from the
February peak, which is now at about 29,065. The September high was at 29,199.35.
In any event, a thrust above 29,065 can suggest an important upward breakout is developing
that can suggest potential that the DJI will exceed its 29,568.67 all-time high. The log-scale
resistance line from the early 2018 high now comes in around 30,650.
Conversely, now that the Dow has seen 3 straight higher weekly troughs, a reversal below
last week's low at 28,181.54 can suggest a more sustained downturn may be developing. The rising
20-week moving average, which essentially contained September's weakness, now is at about
Meanwhile, of concern, weekly momentum has been lagging, suggesting the Dow may need to
quickly exit its short-term range to the upside. Else, it may soon collapse under its own
U.S. STOCKS GAIN AT OPEN, BOOSTED BY STIMULUS HOPES (0938 EDT/1338 GMT)
Wall Street opened higher on Monday as optimism over the passage of a new round of fiscal
relief stoked investor risk appetite.
All three major U.S. stock indexes are in the green, with Nasdaq out front.
U.S. House Speaker Nancy Pelosi said on Sunday that although there remain a wide range of
differences with the White House, she was hopeful that a stimulus package could be passed before
the Nov. 3 election.
Shares of Boeing Co are up after American Airlines Group announced plans to
return the planemaker's grounded 737 MAX aircraft to service by the end of the year.
Oilfield services firm Halliburton Co reported its fourth straight quarterly loss
due to slumping oil prices and plunging demand for its services.
A busy week of quarterly reports lies ahead, International Business Machines Inc
results are expected after the bell.
Here is your opening snapshot:
For Monday's Live Markets' posts prior to 0915 EDT/1315 GMT click here:
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
(Adds quotes)WASHINGTON, June 13 (Reuters) - The International Monetary Fund on Sunday welcomed the Group of Seven's support for expanding the global lender's emergency reserves by $650 billion and said it would work with members on ways to provid...