Stocks Gain on Hopes of China Trade Dispute Resolution

Stocks Gain on Hopes of China Trade Dispute Resolution


The S&P 500 advanced as much as 0.8% Monday after President Trump said he will extend the 1 March trade deadline, as negotiations with China have progressed favorably. 

The benchmark index retreated throughout the session as it tapped up against some mild overhead resistance, but finishing higher by 0.1% above the strong support at: 2,788.50.

The Dow Jones Industrial Average (+0.2%), the Nasdaq Composite (+0.4%), and the Russell 2000 (-0.1%) also finished near their session lows.

President Trump followed up with a Tweet during late trading action that US-China talks are in advanced stages, but he did not provide a new deadline or any further details.

The growing expectations for a trade deal underpinned the leadership from the S&P 500 cyclical sectors. 

The S&P 500 materials (+0.7%), information technology (+0.5%), financials (+0.4%), and industrial (+0.4%) sectors outperformed the broader market. 

Monday, the major US stock market indexes finished at: DJIA +60.14 at 26091.95, NAS Comp +26.92 at 7554.49, S&P 500+3.44 at 2796.07

Volume: Trade on the NYSE came in at 895-M/shares exchanged

  • Russell 2000 +17.8% YTD
  • NAS Comp +13.7% YTD
  • DJIA +11.9% YTD
  • S&P 500 +11.5% YTD

HeffX-LTN’s overall technical analysts/outlook for the major US stock market indexes is Bullish in here.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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