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Market Snapshot - Monday 11.18.19

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DJIA Futures Monday 11.18.19

S&P 500 Futures Monday 11.18.19

Nasdaq Composite Futures Monday 11.18.19

All three US indexes advanced to new highs today but pulled back after investors got wind of an overnight report stating that Chinese officials may be less optimistic on the progress of US-China trade negotiations. China, according to its state-owned media, was under the impression that the US had agreed to roll back tariffs. It was therefore troubled when President Trumps tweeted last week that such an agreement hadnt been sealed.

Meanwhile, the only major economic report of the day, the housing market index, showed a slight dip, coming in at 70, just a point below the consensus estimate of 71.

The Dow closed up 0.1% or 31.33 points at 28,036.22. The S&P 500 ended the day higher by 0.05% at 3,122.03. The Nasdaq closed at 8,549.94, or 0.1% higher. With gold moving 0.2% higher (closing at $1,471.90 per oz) and the 10-year yield falling 1.85%, such moves indicated a slight influx toward safe haven assets on the part of investors.

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About the author

Karl Montevirgen is an independent content writer. Having been involved in the commodities and FX markets for the last 9 years, Karl writes for several companies and publications in the finance space. 

You can view his extended profile, list of publications, and theoretical content work on his LinkedIn page. 

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