Trade war armistice moves market higher

 

Stocks are up at mid-day Monday following news that President Trump and Chinese President Xi Jinping reached an agreement for ongoing talks on the trade dispute between the two nations. The United States had a January 1st deadline to raise existing tariffs, and possibly impose new tariffs, but has agreed to to a 90-day ceasefire in which additional talks can be held. China also reportedly agreed to buy an unspecified amount of agricultural and energy products from the United States.

At present, the S&P 500 is up 0.87%, the DJIA is up 0.91%, and the NASDAQ is up 1.32%.

Industries doing well today include Personal Products, Auto Components, and Textiles, Apparel & Luxury Goods. Industries showing weakness include Beverages, Household Products, and Diversified Telecommunication Services. The VIX is down 1.07 to 17.00 after the previous close of 18.07. The total put/call ratio as of 10:00 AM was 0.66 (485,577/730,748). The advancers/decliners ratio for NYSE stocks is 2,016/931 while the advancers/decliners ratio for NASDAQ stocks is 1,867/1,181.

[InvestorsKeyhole, various news and data sources]

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