Buoyed by a section one US-China commerce deal and optimistic earnings stories from This autumn 2019, E-mini index futures proceed pushing to new highs. After a report shut yesterday, Dow and S&P 500 futures are one other report day primarily based on this morning’s motion.
The Dow Jones Industrial Common closed above 29,000 for the primary time Wednesday and the S&P additionally closed at an all-time excessive. This got here after President Trump met with Chinese language Vice Premier Liu to signal the extremely anticipated section one commerce pact, through which China agreed to buy $200 billion value of American merchandise.
Additionally bolstering market confidence are sturdy earnings from final quarter. Morgan Stanley (MS) stood out from the gang this morning reporting better-than-expected quarterly earnings. Additionally beating estimates had been BlackRock Inc (BLK), UnitedHealth Group (UNH), and Citigroup (C).
The chart above, created for FREE utilizing the NinjaTrader platform, shows value motion in Micro E-mini S&P 500 futures (MES) for the reason that begin of This autumn, 2019. Clearly in a bullish development, a quantity profile has been added to assist determine doable help ranges.
As earnings season continues and commerce negotiations with China push ahead, markets are certain to offer ample buying and selling alternatives for speculators. Merchants ought to at all times concentrate on the dangers concerned and take acceptable measures to guard capital at any time when doable.
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