China Deal Trumps Impeachment Inquiry

Hello traders everywhere. Stocks rose Wednesday after President Trump announced that a U.S.-China trade deal could arrive sooner than expected. However, gains were kept in check as Wall Street assessed House Speaker Nancy Pelosi's announcement that she would launch a formal impeachment inquiry on Trump.

The Dow traded 180 points higher, the S&P 500 was up 0.2%, the Nasdaq climbed 0.30%, and the Dollar rose +.55% back above $99.

Keep an eye on the 50-day moving average for the three major indexes as the NASDAQ has broken below the MA, and the S&P 500 looks to be testing it, sitting just above its 50-day MA.

U.S. crude oil futures shed as much as -2.7% to $55.73 a barrel amid worries about weak demand and excess supply. Oil has since backed off that low but is still trading right around $56 a barrel.

Bitcoin has headed lower losing -3.2% on the day backing up the -11.4% loss on Tuesday, it's third-biggest daily loss of the year, testing its 200-day MA.

Key Levels To Watch This Week:

Every Success,
Jeremy Lutz
INO.com and MarketClub.com

One thought on “China Deal Trumps Impeachment Inquiry

  1. The US-China Trade war has not benefited anyone and any country and surely it will not benefit in the future as well. From the global economy to Stocks markets it hasn't spared anyone. As per stock market news, the most affected country is Australia as most of its exporters are from the US and the Australian stock markets have seen great fluctuation from the time trade war has begun. None sector has left unaffected whether you consider lithium stocks, gold stocks, mining stocks, major real estate stocks, etc. But now I think things will change as we see a positive movement in recent days. I hope the US Stock Market will keep a stable graph in the coming days as well.

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