Wall Street notches another positive close, DJIA 45 points higher, up 0.2%
|- Dow Jones Industrial Average, DJIA, finished 45 points higher, up 0.2%.
- S&P 500 added around 9 points, or 0.3%, to settle near 3,010.
- The Nasdaq Composite finished near 8,194, up around 25 points, or 0.3%.
US stocks continue to relish in the supposed de-escalation U.S.-China trade tensions as well as the prospect of a new easing cycle on the back of the fresh round of stimulus measures by the European Central Bank.
Bloomberg News said administration officials were weighing an interim deal with Beijing, though White House officials denied they were working on an agreement. Either way, positive sentiment grows and the Dow Jones Industrial Average, DJIA, finished 45 points higher, up 0.2%, near 27,182 while the S&P 500 added around 9 points, or 0.3%, to settle near 3,010. The Nasdaq Composite finished near 8,194, up around 25 points, or 0.3%.
US data
US headline August CPI rose 0.1% m/m (1.7% y/y), restrained by a 1.9% fall in the energy component. "However, core CPI beat expectations, rising 0.3% m/m (2.4% y/y). This is the third consecutive month where core CPI has come in at 0.3% m/m, with the 3m annualised rate at 3.6% the highest since 2006 (and the highest annual core inflation since 2011). Medical care and shelter were the biggest drivers, but the broad-based increase suggests the period of weak inflation has passed, bringing into question how far the Fed can cut," analysts at ANZ Bank explained.
DJIA levels
The DJIA has printed another higher high bt has left a bearish doji candle formation through the 27200s targets and fell just shy of the 27398 target level to 27306. On the flip side, the 200-DMA is located at 25697 below the 21-DMA that sits just above the pivot. Further below lies the May and Jun lows in the 24700s as a double-bottom target.
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.