US Stock Market News
Per an announcement by the Chinese Commerce Ministry, the U.S. and China trade talks have reached a significant conclusion. President Trump restrained from his initial threat to levy higher tariffs on Chinese goods. This is the biggest update in US Stock Market News today. Owing to political pressure, this substantial progress was made.
The statements that “they are very very close” to getting a deal done has made the markets buoyant. A final agreement will boost the manufacturing stocks even further.
Stock market news for Feb 25, 2019
Wall Street’s major indices have been a steady spurt but did not touch any new highs. Dow Jones Industrial Average rose by 230 points and pared off its gains. It closed up finally 60 points above with 0.2% increased at 26,091.95.
The wide-based S&P 500 index has gained 0.1% to reach 2,796.11. The materials stocks led the rally with 11 of the primary sectors higher. Information technology stocks also outperformed.
The NASDAQ Composite Index with technology -focused stocks gained 0.4% to go to 7,554.46.
The blue-chip index has been rising for 9 trading weeks continuously with the longest running highs since 1995.
To track volatility, CBOE VIX rose acutely on Monday. As it the “fear index” showing the general mood of the market, a gain of 9.9% closes it at 14.85. This was a four-and-a-half-month low.
Trade setup for Tuesday
Important data points will be released today – Housing for Dec, Building Permits data, with Month on month changes. Another important data is US House Price Purchase Index with a quarter-on-quarter data. The market will also closely look at House Price Index month – on-month. Apart from these the S&P 500 /Case-Shiller Indices for December will be released. Anything important data sets to watch out for are the USD Richmond Fed Manufacturing Index, USD Consumer Confidence Index.
Also, other important aspects for today are the yield movements per the US$26 billion 52-week T-bills. Apart from this, the treasury is also selling US$32 billion 7 year government notes.
For Futures Trades indicators, CFTC Gold NC net positions, with CFTC Oil NC net positions, CFTC USD NC net positions will be also out.
The technology related SPDR (XLK) also gained 1.3% where 9 out of 11 benchmark index closed in green. In Down, 25 of the 30 stocks closed in green. Shares of various technology companies – Facebook (FB), Apple, Amazon, Netflix, Google are up by 1.2%, 1.1%, 0.8%, 1.7% and 1.1% respectively.
Shares of giant GE – General Electric have moved higher on important news of industrial giant to turn around things. Retail giant Home Depot has not been doing well due to housing new home sales, durable goods orders, personal income and spending, and manufacturing activity. On March 1st, the President had planned to increase tariffs to 25% from 10% on $200 billion worth of Chinese imports into the United States.
Also, the monetary authority’s stance with regards interest rate hikes has given a big boost and Wall Street has retraced the losses suffered in the final quarter of 2018.