U.S. Considers Lifting China Tariffs To Push Trade Deal Through
MrTopStep | Jan 20, 2019 01:24AM ET
- In Asia 11 out of 11 markets closed higher: Shanghai Comp +1.42%, Hang Seng +1.25%, Nikkei +1.29%
- In Europe 13 out of 13 markets are trading higher: CAC +1.60%, DAX +1.77%, FTSE +1.60%
- Fair Value: S&P -0.17, NASDAQ +9.46, Dow -27.62
- Total Volume: 1.5mil ESH & 430 SPH traded in the pit
Today’s economic calendar includes John Williams (NYSE:WMB) Speaks 9:05 AM ET, Industrial Production 9:15 AM ET, Consumer Sentiment 10:00 AM ET, and the Baker-Hughes Rig Count 1:00 PM ET.
h2 S&P 500 Futures: #ES Shake & Bake/h2
On yesterday’s cash open the S&P 500 futures printed 2605.75, made a low of day a tick beneath, and never looked back. The #ES pushed up to a first hour high at 2618.75, then after a 7.5 handle pullback, the markets reloaded and began to grind higher through the late morning, making a high of 2623.00.
The ES went on to make a midday low of 2617.75, and once again buyers came in to push the benchmark futures up to 2625.75. As news hit that some people in the Trump administration were suggesting a lift on the China tariffs, the ES rallied hard, up to 2645.50, before coming back down to 2625.25. The futures continued to climb into the close, settling the day at 2635.75, up +22.50 handles, or +0.86%.
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