Banks boost U.S. stocks on slow trading day

U.S. stock indexes got a boost from bank shares in an otherwise lackluster session as investors digested warnings from the world’s financial leaders about the impact of protectionism on growth.

The S&P 500 Index started the week higher, with financials leading the gainers amid below-average trading volume. Amazon.com pulled consumer discretionary stocks lower after President Donald Trump renewed his public campaign against Jeff Bezos’s Washington Post. West Texas crude see-sawed as Trump’s warnings to his Iranian counterpart were offset by a strengthening dollar. Treasuries slipped.

The world’s finance chiefs over the weekend said global growth remains robust and many emergingmarket countries are better prepared to face crises, but risks to the world economy have increased. Also rattling investors, Trump took issue with the yuan’s sixweek slide to the weakest level in more than year, raising concern that the America-China trade war is now spilling over into currency markets. The heated rhetoric is offsetting a mixed earnings season, keeping the S&P 500 hovering around 2,800.

“Many eyes are focused here given that it’s a round number and that it’s proven to be impregnable since breaking below it in February,” Frank Cappelleri, senior equity trader and market technician at Instinet LLC, wrote in a message. “Given the plethora of earnings coming this week, there’s little reason to force the issue from either side thus far.”

He added: “Simply holding steady in the face of all of this would be a net positive.”

The Stoxx Europe 600 Index closed lower after sudden changes in leadership at Fiat Chrysler hit carmakers, while travel companies also declined after Ryanair posted a 20 percent decline in firstquarter profit.

In Asia, Japan’s 10-year government bonds plunged, sending the yield up the most in almost two years. The yuan slipped. Emerging-market stocks were little changed. Bitcoin pushed higher