|Day's range||27,843.54 - 28,004.89|
|52-week range||21,712.53 - 28,004.89|
Asian shares are mixed Monday in a cautious mode after Wall Street closed out the week with milestones as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs. Hong Kong’s Hang Seng added 1.3% to 26,657.14, while the Shanghai Composite was up nearly 0.2% at 2,896.47.
Asian shares blipped higher on Monday after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that more stimulus was on the way for the world's second-largest economy. MSCI's broadest index of Asia-Pacific shares outside Japan also moved 0.3% higher. Japan's Nikkei added 0.38%, and was just short of its recent 13-month top.
While economic data will influence, Beijing and Washington will likely have the greatest impact on risk appetite in the week ahead.
Hopes that a breakthrough is imminent in the US-China negotiations sent a buoyant Wall Street to fresh records on Friday, with all three major indices posting all-time highs. The benchmark Dow Jones Industrial Average crossed the 28,000 level for the first time, rising 0.8 percent to 28,004.89, its seventh record since the start of the month. "The biggest driver to new highs was about trade, positive comments coming out of DC," particularly remarks by top White House economic advisor Larry Kudlow on the possible signing of a US-China trade deal, Bill Lynch of Hindsale Associates told AFP.
The market is trading on the strong side of an uptrending Gann angle from the 25703 main bottom on October 3. This angle, moving up at a rate of 64 points per day comes in at 27687 on Friday.
Investing.com – Stocks surged Friday setting new closing and intraday highs, as investors cheered decent economic news and were relieved when the White House said trade negotiations with China were progressing.
Henry Kissinger, with decades of experience of dealing with China, gives his assessment on the two countries' relationship.
Key US indices continue to rush historical highs. Futures on S&P500; crossed the 3100 mark, adding one third to the price against the lows of the end of last year.
Based on the early activity and the current price at 27814, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Friday is likely to be determined by trader reaction to Thursday’s close at 27746.
Global equities markets rose and safe-haven assets such as gold and government debt fell on Friday on renewed hopes that the United States and China will reach a deal to de-escalate their trade war helped boost risk appetite. The three major U.S. stock indexes opened higher and set fresh record highs while equity markets from Tokyo to the major bourses in Europe and across the Americas gained on remarks by White House economic adviser Larry Kudlow on Thursday. Kudlow cited what he called very constructive talks with Beijing about ending a 16-month trade war during an event at the Council on Foreign Relations in Washington.
The Dow index ended barely negative, after posting a closing high on Wednesday, while the Nasdaq also ended fractionally lower. Cisco shares tumbled 7.3% after the network gear maker forecast second-quarter revenue and profit below expectations as increasing global economic uncertainties kept clients away from spending more on its routers and switches. Cisco's share decline weighed the most on the major indexes and helped drag the technology sector down 0.1%.
Fed Chairman Jerome Powell told Congress Thursday that there's "no reason to think" that the U.S. economy is at a greater risk of recession right now.
Investing.com – Wall Street was slightly lower on Thursday as concerns about global economic slowdown and a reported snag in U.S.-China trade discussions sent a wave of worry through the market.
The S&P 500 edged up to a record closing high at the end of a choppy day of trading. The Dow was off just slightly as declines in shares of Cisco weighed on the 30-stock index.
Global stock markets slipped Thursday amid doubts about a U.S.-Chinese trade deal and after the U.S. Federal Reserve chairman said it is likely to leave its benchmark interest rate unchanged. London and Frankfurt were trading lower after Tokyo and Hong Kong closed down for the day. Wall Street futures were up slightly.