FYI: Stocks, oil and emerging market currencies rose Monday as the U.S. and China’s trade detente spurred optimism that tensions between the two countries would ease heading into the new year.
The Dow Jones Industrial Average soared more than 400 points out of the opening gate before paring gains, trading up 288 points, or 1.1%, at 25,826. Oil prices bounced off the lows they hit last week, while the Chinese yuan jumped against the U.S. dollar. The S&P 500 and the Nasdaq were up over 1%.
The flurry of buying started after President Trump and Chinese President Xi Jinping reached a deal Saturday to temporarily spare Beijing from tariffs that were planned to go into effect at the start of 2019. Investors received more good news early Monday when Mr. Trump said in a tweet that China had agreed to cut tariffs on American-made cars.
Nine of eleven S&P 500 Sectors finished in positive territory lead by Consumer Discretionary Technology, Energy, Materials, and Industrials.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/asian-stocks-rise-as-u-s-and-china-reach-a-trade-truce-1543794233Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-12-03/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-12-02/trade-truce-brings-relief-as-aussie-yuan-gain-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/market-applauds-truce-in-trade-war-what-about-leading-stocks/Reuters:
https://www.cnbc.com/2018/12/02/dow-futures-surge-after-trump-and-xi-agree-to-pause-the-trade-war.htmlCNBC:
https://www.cnbc.com/2018/12/02/dow-futures-surge-after-trump-and-xi-agree-to-pause-the-trade-war.htmlU.K.:
https://www.marketwatch.com/story/resource-stocks-drive-gains-in-london-after-us-china-trade-tensions-ease-2018-12-03/printEurope:
https://www.marketwatch.com/story/european-stocks-surge-on-us-china-trade-breakthrough-2018-12-03/printAsia:
https://www.marketwatch.com/story/asia-pacific-stocks-jump-on-us-china-trade-truce-2018-12-02/printBonds:
https://www.cnbc.com/2018/12/03/bond-market-treasury-yields-rise-as-us-and-china-reach-truce-on-trade.htmlCurrencies:
https://www.cnbc.com/2018/12/03/forex-markets-us-china-trade-dollar-in-focus.htmlOil:
https://www.cnbc.com/2018/12/03/oil-markets-us-china-trade-opec-meeting-in-focus.htmlGold
https://www.cnbc.com/2018/12/03/gold-markets-us-china-trade-dollar-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
