An HeffX-LTN Key indicator for extending this Bull Market: The last vestige of the financial crisis ended Thursday as financial stocks in the S&P 500 passed their prior closing high eclipsing the record marked in Feb 2007 before losing more than 80% of their value in less than 2 yrs.
Thursday, President Trump signed off on a trade deal with China that delays a new round of tariffs that was to be put in place on 15 December.
A source briefed on the trade talks told Reuters earlier Thursday that the United States had reached a “deal in principle” with Beijing to resolve a 17-month-old trade dispute and that an announcement was expected later Thursday.
Wall Street’s major indexes hit record highs Thursday following news that the United States had reached a deal with China to resolve a trade dispute that has rattled markets for almost 2 years.
The DJIA rose 220.75 points, or 0.79%, to 28,132.05, the S&P 500 gained 26.94 points, or 0.86%, to 3,168.57, and the NAS Comp added 63.27 points, or 0.73%, to 8,717.32.
All 3 major indexes marked intra-day records, while the S&P 500 and the NAS Comp posted record high closes.
Volume: Trade on all US exchanges came in at about 8-B shares changed hands on US exchanges, well above the 6.7-B daily average over the last 20 sessions.
Advancing issues outnumbered decliners on the NYSE by a 1.89-to-1 ratio; on NAS, a 1.85-to-1 ratio favored advancers.
The S&P 500 posted 83 new 52-wk highs and 2 new lows; the NAS Comp recorded 195 new highs and 56 new lows.
- NAS Comp +31.4% YTD
- S&P 500 +26.4% YTD
- Russell 2000 +22.0% YTD
- DJIA +20.6% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Very Bullish in here.
Looking ahead, investors will receive the Retail Sales report for November, Export and Import Prices for November, and Business Inventories for October on Friday.