Wall Street HoldsNear Record Levels

MarketPulse | Dec 23, 2019 03:05AM ET

US indices posted small incremental gains on Friday as the markets head into the holiday week. UK shares touch a five-month high as Boris Johnson prepares his accelerated Brexit bill. China reportedly to start shaving import tariffs from the start of next year.

US30USD Daily Chart

The US30 index looks set to rise for a tenth straight day, the first time it has done so since July 2017.

The index hit a new record high on Friday, pulling the 55-day moving average, which has supported prices since October 10, to 27,545.
US durable goods orders probably rose 1.9% in November, according to the latest survey of economists. New home sales data for the same month are also due and are expected to decline 0.8% m/m.
DE30EUR Daily Chart

The Germany30 index looks poised to climb for a third day ahead of the holidays
The 55-day moving average has advanced to 13,018 and has also supported prices since October 10
German consumer confidence, as measured by Gfk, came in slightly below forecast in January, slipping to 9.6 from 9.7. There are no major data releases scheduled for today.
CN50USD Daily Chart

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The China50 index closed little changed on Friday and is hovering just below the six-week high struck last week.
The 55-day moving average is at 13,955 and has supported prices for almost two weeks.
US President Trump said he had “a very good talk” with President Xi of China about the “giant” trade deal. He added that China had already begun large scale purchases of agricultural products and more. Meanwhile, XinHua News has reported that China is to adjust import tariffs for some 850 products starting January 1.
Original Post

Written By: MarketPulse

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