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.

Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.

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