Wall Street Bets Yes, President Trump’s America First Policy Working

Wall Street Bets Yes, President Trump’s America First Policy Working

Wall Street Bets Yes, President Trump’s America First Policy Working

$DIA, $SPY, $QQQ

Friday, US stocks rose as investors bet on progress in US-China trade meeting Saturday, and the S&P 500 and the Nasdaq posted their biggest weekly percentage gains in almost 7 years.

DJIA saw its largest weekly advancer in 2 years, as investors were encouraged this week by comments by Fed Chairman Powell and subsequent FOMC mins from the latest meeting suggested that the Fed will take a data-driven rather than ideological approach to future rate-hikes aka Dovish.

All 3 major US stock market indexes recorded monthly percentage gainers in November.

A Chinese official said “consensus is steadily increasing” in trade negotiations between the US and China as the G-20 meeting got underway in Buenos Aires, fueling hopes there will be a positive resolution in the ongoing tariff dispute between the world’s 2 largest economies.

US President Donald Trump is set to meet with China’s President Xi Jinping Saturday and the outcome could drive a equity rally for the rest of the year and into January 2019.

The 3 Key issues that people are really focusing on the following;

  1. How dovish is the Fed going to be going forward
  2. How are trade relations with China going to play out, and
  3. What is going on in the Crude Oil markets.

We have been get better news since last Friday, that has helped lift the markets, and that is why we saw a week like this 1 that ended Friday on a high note.

On the Day

The DJIA rose 199.62 pts, or 0.79%, to 25,538.46, the S&P 500 gained 22.4 pts, or 0.82%, to 2,760.16 and the NAS Comp added 57.45 pts, or 0.79%, to 7,330.54.

Of the 11 major sectors in the S&P 500, all but energy .SPNY ended the session in positive territory.

Energy stocks fell 0.2% as Crude Oil prices (LCOc1) extended their slide.

But falling Crude Oil prices boosted airlines stocks, as the Dow Jones Airlines index .DJUSAR rose 2.8%.

Advancing issues outnumbered decliners on the NYSE by a 1.17-to-1 ratio; on NAS Comp, a 1.24-to-1 ratio favored advancers.

The S&P 500 posted 28 new 52-week highs and 6 new lows; the NAS Comp recorded 49 new highs and 90 new lows.

Volume: US exchanges volume was 8.39-B/shares (heavy), compared to the 7.63-B/shares average for the full session over the last 20 trading days.

America First!

Have a terrific weekend

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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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