$DIA, $SPY, $QQQ, $RUTX, $USD, $USO, $GLD, $XAU, $VXX
US stocks advanced for the 3rd Quarter running, as investors weighed the latest turns in the trade dispute between the world’s 2 largest economies. The USD rose and Treasuries moved higher.
Tech drove the rise after The Trump Administration partially refuted a report it would target Chinese capital, reversing losses sparked by the news Friday.
Ten-year Treasury yields erased an early advance to trade lower around 1.67%, more than 30 bpts lower than it was at the end of Q-2 in June, after data showed weakening business activity. USD pushed Quarterly gainers toward 2.7%.
GBP fell as Prime Minister Boris Johnson fought off allegations of sexual impropriety and plots in Parliament to oust him over his BREXIT plans.
NYMEX WTI Crude Oil fell below $55 bbll. Gold dipped for a 2nd day, though it was on pace for a 4th Quarterly gainer.
“Investors continue to be people who are pulling petals off a daisy saying ‘there will be an accord, there will not be an accord, there will be an accord, there won’t be.’ Nobody really knows for sure — at least I don’t,” the chief investment strategist at CFRA, said about trade between the US and China in a telephone interview.
So, based on the market’s lack of fear, the majority expect some sort of discussion to occur in early October, and that there will be encouraging developments as we move forward.
The major US stock market indexes finished at: DJIA+96.58 at 26916.83, NAS Comp +59.71 at 7999.34, S&P 500 +14.95 at 2976.78
Volume: Trade on the NYSE came in at 900-M/shares exchanged
- NAS Comp +20.6% YTD
- S&P 500 +18.7% YTD
- DJIA+15.4% YTD
- Russell 2000 +13.0% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Neutral with a Bullish bias.
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