US President Trump tweets on the Wednesday's US stock market record highs


Stocks eked out record closes in the major benchmarks again on Wednesday following an improved assessment of the US economy on the back of an upbeat Beige Book and solid individual data releases ahead of the Thanksgiving Day holiday Thursday.

The Dow Jones Industrial Average, DJIA, ended up 42.32 points or 0.15% at 28,164.00 for a record, while the S&P 500 added 13.11 points or 0.42% to 3,153.63, The Nasdaq was higher by 57.24 points or 0.66% and closed at 8,705.18.

President Trump tweets

President Trump tweets, "New Stock Market Record today, AGAIN. Congratulations USA! 

Key US data boosts markets

  • The second estimate of US Q3 GDP was 2.1% annualized, nudged up from 1.9%, with solid personal consumption but a lift in inventories which could detract from Q4 GDP. Oct durable goods orders rose a solid +0.6%m/m (vs est. -0.9%), the important ex-transport orders measure also rising +0.6%m/m (vs est. +0.1%m/m). Capital goods orders were also stronger than estimated (non-defence/ex-air rising 0.8%m/m, est. -0.2%m/m)

  • Chicago PMI rose in line with estimates in Nov but remains weak at 46.3 (est. 47.0, prior 43.2). The employment component was weak, though the decline in new orders was more subdued.

  • US Oct personal income was disappointing at flat m/m (est. +0.3%m/m) and with spending at +0.3% (as est.) the savings ratio slipped to 7.8% from 8.1%. Core PCE inflation was also disappointing at +1.6%y/y (est. +1.7%y/y).

Analysts at Westpac explained. 

DJIA levels

DJIA

Overview
Today last price 28174
Today Daily Change 12.00
Today Daily Change % 0.04
Today daily open 28162
 
Trends
Daily SMA20 27705.6
Daily SMA50 27157.08
Daily SMA100 26875.68
Daily SMA200 26469.46
 
Levels
Previous Daily High 28174
Previous Daily Low 28026
Previous Weekly High 28164
Previous Weekly Low 27676
Previous Monthly High 27280
Previous Monthly Low 25744
Daily Fibonacci 38.2% 28117.46
Daily Fibonacci 61.8% 28082.54
Daily Pivot Point S1 28067.33
Daily Pivot Point S2 27972.67
Daily Pivot Point S3 27919.33
Daily Pivot Point R1 28215.33
Daily Pivot Point R2 28268.67
Daily Pivot Point R3 28363.33

 

 

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