S&P Midcap E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) this morning is up +0.43%, the Dow Jones Industrials Index ($DOWI) is up +0.45%, and the Nasdaq 100 Index ($IUXX) is up +0.58%.
U.S. stock indexes have all posted new record highs this morning on optimism a trade deal between the U.S. and China is imminent. Trade optimism soared after White House economic adviser Kudlow on Thursday night said that the first phase of a trade deal with China was close though "not done yet" and that "we are coming down to the short strokes" of signing a deal. Stock prices extended their gains after U.S. Commerce Secretary Ross said today that "we're down to the last details now" and there will be a trade deal "in all likelihood."
Today's U.S. economic data was mixed for stock prices after the Oct retail sales rose +0.3%, stronger than expectations of +0.2%. However, Oct retail sales ex-autos rose +0.2%, weaker than expectations of +0.4%. Also, the Nov Empire manufacturing survey general business conditions unexpec... Read more