S&P 500 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed up +0.01%, the Dow Jones Industrials Index ($DOWI) closed up +0.01%, and the Nasdaq 100 Index ($IUXX) closed up +0.25%.
U.S. stock indexes rallied to fresh record highs Friday but settled only slightly higher as prices whipsawed on conflicting trade headlines and weaker-than-expected U.S. economic data.
U.S. stock indexes jumped to new all-time highs on positive trade news after China Vice Commerce Minister Wang Shouwen on Friday morning confirmed that China and the U.S. agreed on the text of a phase one trade deal, which will see removal of tariffs on Chinese goods in stages. However, stocks whipsawed lower after President Trump said that while the U.S. will scrap the new tariff on Chinese goods scheduled for Dec 15, the existing 25% tariff will remain in place. The status of other tariffs remains unclear. Also, Chinese officials failed to specify volume targets for purchases of U.S. agricultural goods, although they pledged t... Read more