Wall Street close: Benchmarks rip to record highs on imminent Sino/US trade deal


  • DJIA was rising 221 points, or 0.8%, to close at roughly 28,132.
  • The S&P 500 index ending the day 27 points, or 0.8% higher, at about 3,169.
  • Nasdaq Composite adding 63 points, or 0.7% to close at around 8,717.

The US benchmarks on Thursday rallied on the news that a Sino/US trade deal was imminent and being constructed to prevent tariffs kicking in on the looming China tariff deadline. A late confirmation of a flow of prior bullish headlines sealed rhe deal for Wall Street's bulls. 

US President Donald Trump originally tweeted that the States was “getting VERY close to a BIG DEAL with China”. This was then backed up from a report in the Wall Street Journal detailing how US negotiators were going to offer to slash existing tariffs, which cover roughly $360 billion of Chinese goods, by 50% and how the US was also willing to cancel the next round of China tariffs, planned to take effect on another $156 billion of Chinese goods on December 15. Then, lastly, Bloomberg TV announced that the US reached a deal in principle with China that now awaited Trump's signing. Wall Street cheered the good news all day long into the close.

US stock benchmarks touched record highs

Subsequently, all three major US stock benchmarks touched record highs with the Dow Jones Industrial Average, DJIA, rising 221 points, or 0.8%, to close at roughly 28,132, the S&P 500 index ending the day 27 points, or 0.8% higher, at about 3,169 and the Nasdaq Composite adding 63 points, or 0.7% to close at around 8,717. 

DJIA levels

DJIA

Overview
Today last price 28128
Today Daily Change 200.00
Today Daily Change % 0.72
Today daily open 27928
 
Trends
Daily SMA20 27910.55
Daily SMA50 27384.06
Daily SMA100 26950.07
Daily SMA200 26585.5
 
Levels
Previous Daily High 27974
Previous Daily Low 27800
Previous Weekly High 28206
Previous Weekly Low 27324
Previous Monthly High 28196
Previous Monthly Low 27058
Daily Fibonacci 38.2% 27907.53
Daily Fibonacci 61.8% 27866.47
Daily Pivot Point S1 27827.33
Daily Pivot Point S2 27726.67
Daily Pivot Point S3 27653.33
Daily Pivot Point R1 28001.33
Daily Pivot Point R2 28074.67
Daily Pivot Point R3 28175.33

 

 

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