Dow up 151 points after Trump Tweet
|Make no mistake about it. Right now it’s all about trade.
Yesterday evening, news out of China sent the E-Mini S&P lower by 1.0%. The reports said that there had been no progress on a trade deal with early talks, and that Chinese Vice Premier Liu He might be cutting is trip short.
But after a wild overnight trading session, with swings of 1.0% back and forth in the E-Mini S&P, President Trump helped stabilize markets by tweeting “Big day of negoations with China. They want to make a deal, but do I? I meet with the Vice Premier tomorrow at the White House.”
Just the idea that the Trump and Vice Premier Liu He were still meeting seemed to be a positive after last night’s big swings. In fact, stocks rallied all morning after the open.
There was a small pulback during lunch. But the major indices finished strong with another rally in late trading.
Here’s where the major indices ended the day:
- The S&P finished with a 0.6% gain. Up 19 points, the S&P ended at 2,938.
- The DOW ended higher by 0.6%. Adding 151 points, the DOW closed at 26,497.
- The NASDAQ was up 0.6%. With a 45 point gain, the NASDAQ finished at 7,949.
Crude Oil (CL) opened the day higher and rallied. With a 1.9% gain, CL ended at $53.61 a barrel.
Caterpillar (CAT), a stock that could benefit greatly from a trade deal, was up 2.7% today.
And Apple (AAPL) continued its march towards record highs with a 1.4% gain.
Netflix (NFLX) was also a big winner today, up 4.8% even though two analysts cut their price targets for the stock.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.