|Day's range||24,459.03 - 24,750.22|
|52-week range||21,712.53 - 26,951.81|
Investing.com - Trade rhetoric could hang over the market in the coming week, as investors watch further developments surrounding the ongoing trade spat between the U.S. and China.
It’s not just China’s economy that the markets are concerned with. An end to the government shutdown and more progress on trade talks is needed.
All three major indexes surged more than 1%, but not all investors were happy. Tesla slumped and the government shutdown was in its 27th day.
The major benchmarks made gains, but Netflix fell despite reporting a strong quarter. Elsewhere, Apple and Johnson & Johnson announced a new collaboration.
Broader Market Supported the Energy Portfolio(Continued from Prior Part)US equity indexesOn January 10–17, US equity indexes had the following correlations with US crude oil March futures:the S&P 500 (SPY): 95.5%the Dow Jones Industrial
The Dow Jones Industrial Average is up 1.1%, to 24,648.88 in recent trading. The S&P 500 and Nasdaq Composite are both surging 1.2%.
Investing.com – The Dow soared Friday, led by industrials, on optimism that China and the United States would find a way to end their bitter trade dispute.
11:20 a.m. The Dow Jones Industrial Average has gained more than 200 points on reports that China has offered to eliminate its trade deficit with the U.S. by 2024. The Dow has risen 233.77 points, or 1%, to 24,603.87, while the S&P 500 has gained 1.1% to 2664.48, and the Nasdaq Composite has climbed 1.1% to 7162.20. Bloomberg reported that China had offered to reduce its trade deficit with the U.S. to $0 by 2024, the last year of President Donald Trump’s presidency if he were to get re-elected.
Based on the early price action and the current price at 24540, the direction of the March E-mini Dow Jones Industrial Average futures contract on Friday is likely to be determined by trader reaction to the downtrending Gann angle at 24460.
Broader Market Supported the Energy PortfolioOil pricesOn January 17, US crude oil March futures fell 0.5% and settled at $52.36 per barrel. Rising oil production in the United States and concerns surrounding global economic growth might have
STOCKSTOWATCHTODAY BLOG Hope Again. Stocks were climbing in premarket trading, as investors cheered a potential step closer to ending the trade war. The White House may be considering pulling back tariffs to incentivize China to make its own concessions and calm markets.
U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a rollback during trade discussions scheduled for Jan. 30, according to The Wall Street Journal.
Global stocks rose for the fourth week in a row as optimism mounted that progress was finally being made in resolving the trade dispute between the US and China. Further grounds for optimism emerged on Friday when Bloomberg said China had offered a path to eliminate its trade imbalance with the US by ramping up purchases of American goods over the next year. “Recent comments continue to suggest that a US-China trade deal is on the cards in the weeks ahead, and this impression was affirmed in our meetings with policymakers in Washington during the course of the past week,” said Mark Dowding, co-head of developed markets at BlueBay Asset Management.
The market jumped sharply following a report that U.S. officials are considering lifting tariffs on Chinese imports as a way to advance trade talks. Gains soon faded.
Stocks, which had been flat most of the day, spiked when The Wall Street Journal reported that the U.S. was considering new tactics in talks with China, including lowering tariffs. They pulled back when the White House denied the report.
Will Oil End the Week on a Lower Note?US crude oil So far this week, US crude oil February futures have risen 1.4%. However, at 11:42 AM EST on January 17, US crude oil prices had fallen $0.52 from their last closing level. Lately, bearish EIA
The Nasdaq and S&P 500 were pushing ahead with small gains at noon on Thursday, after starting the day on a downbeat note.
Investing.com – The Dow closed higher Thursday but gave up a large portion of its gains after the Trump Administration downplayed a report the U.S. was considering easing tariffs on China to hasten a trade deal.
Economic analysts—including Jamie Dimon—are issuing warnings about how the extended shutdown might hurt the economy and markets.
Stock ownership has gotten extremely concentrated in the U.S. with the top 1% owning half of equities held by American households.