S&P 500 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Wednesday closed up +0.63%, the Dow Jones Industrials Index ($DOWI) closed up +0.53%, and the Nasdaq 100 Index ($IUXX) closed up +0.51%.
U.S. stock indexes on Wednesday recovered most of Tuesday's losses on fresh hopes for a U.S./China trade deal. Bloomberg News reported Wednesday that U.S. trade negotiators expect a phase-one trade deal with China to be completed before U.S. tariffs are set to increase on Dec 15, despite tensions over Hong Kong and Xinjiang where U.S. legislators voted to sanction Chinese officials for alleged human-rights abuses. The Bloomberg report said the only outstanding issues are how to guarantee Chinese purchases of U.S. agricultural goods and exactly which tariffs will be rolled back.
An easing of global economic concerns is also providing a positive backdrop to equity prices after Wednesday's data showed the China Nov Caixin services PMI rose sharply by +2.4 to 53.5, stronger than expectations of +0.1 to 51.2 and... Read more