The U.S. dollar received a lift against the euro and most other major currencies Monday, with rising U.S.-China trade tensions prompting investors to liquidate some short positions on the stressed greenback. China stated yesterday that they would launch an anti-dumping investigation into U.S. sales of chicken and auto products, a move thought to be in response to Washington’s decision to impose disciplinary sanctions on Chinese tire imports late last week. -Marketwatch

Talk of a takeover of Sprint Nextel (NYSE: S) by Deutsche Telekom (NYSE: DT) sent the German company’s shares down 1.4 percent and boosted the U.S. mobile operator’s stock by 11 percent in pre-market trade on Monday. Such a deal would vault Deutsche Telekom’s T-Mobile USA unit past market leaders AT&T and Verizon to the number one spot. However, this would cost billions of Euros to pull off. –Reuters

Citigroup downgraded shares of fertilizer giants Potash Corp. (NYSE: POT) and Mosaic Co. (NYSE: MOS) to hold from buy, citing weaker-than-expected fall fertilizer application season and price risks associated with China contract delays. -Marketwatch

Additionally, Crude oil futures fell today as the U.S. dollar strengthened while worries over high oil product stocks and technical resistance weighed on the market. On the New York Mercantile Exchange, light, sweet crude futures for October delivery traded at $68.24 a barrel, down $1.05 in the Globex electronic session, after having posted the largest single-day decline in two weeks Friday. -The Wall Street Journal

In other news, Citigroup (NYSE: C) upgraded E-Trade Financial Corp. (NASDAQ: ETFC) to buy from hold, saying that E-Trade raising capital and a recent debt exchange have eased concerns over the firm’s balance sheet. -Marketwatch

-Jutia Group