DJIA Futures Tuesday 11.26.19

Screenshot-2019-11-27-at-1.36.18-PM-300x165 Market Snapshot - Tuesday 11.26.19

S&P 500 Futures Tuesday 11.26.19

spnov26-300x164 Market Snapshot - Tuesday 11.26.19

Nasdaq Composite Futures Tuesday 11.26.19

nasdaqnov26-300x165 Market Snapshot - Tuesday 11.26.19

Indexes spend most of the trading day attempting to reclaim their overnight record highs. The overnight moves extended yesterday’s surge which was largely fueled by optimism on trade negotiation progress between the US and China. The Dow advanced 150 points, a dramatic move that was nearly mirrored by the S&P 500 and Nasdaq.

 

Although a US official reported yesterday that a phase one trade deal may be reached by the end of the year, the clock is still ticking for tariffs (on Chinese goods) scheduled for December 15 . Whether a deal is reached before that date remains in question.

 

International trade report shows that the October US trade deficit stands at -$66.53 billion, down sharply from September’s -$70.55 deficit, and lower than the -$70.8 billion that economists had expected.  New home sales figures came in at 733,000, higher than the anticipated consensus figure of 707,000. The rise in new home sales was likely boosted by low mortgage rates and strong employment. Consumer confidence, however, weakened slightly giving us the figure of 125.5, lower than the expected reading of 126.9. 

 

A the end of the trading day, the Dow advanced 0.2% or 55.14 points to close at 28,121.68.  The S&P 500 rose 0.2% to end at 3,140.50. The Nasdaq closed higher at 8,647.93, up 0.2%.

 

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