On Wednesday, the 4th of December 2019, all three key indices of Wall St. had regained much of their footings lost yesterday (December 3rd) despite a rush of dismal data casting a withering backdrop over US economy following a much-required boost from the US President Donald Trump’s Wednesday’s (December 4th) remarks that talks with Beijing over an interim trade deal had been going “very well.
” In point of fact, Wednesday’s (December 4th) market had witnessed a pause of Wall St.’s three-day-long losing streak that began on last Friday (November 29th) after US President Donald Trump had signed an approved US Senate bill backing pro-democracy protestors in the China-controlled island city of Hong Kong, nonetheless, Wednesday’s (December 4th) market opened in an upscaled note following release of a Bloomberg report that said two of the world’s largest economies were getting closer to reach an agreement over the amount of tariffs to be rolled back as part of a “Phase One” trade accord, while Trump’s latest trade remark revealed later on Wednesday (December 4th) had confirmed the Bloomberg report.
Meanwhile, although all three major US stock indices went through a broad-based rally on Wednesday (December 4th) amid robust gains of tariff-sensitive tech stocks following Trump’s trade remarks, cautioning investors over a possible whipsaw ahead after release of a bundle of dismal data this week, a senior portfolio manager at Voya Investment Management in New York, Doug Cote, said on Wednesday (December 4th), “Anything that happens on any day is because of trade, but it’s a much richer mosaic underneath.
The consumer’s on fire. That’s what’s behind the resilience in the market and this will be the best holiday season on record. ” Citing statistics, on Wednesday’s (December 4th) market wind down, Dow gained 0.53 per cent to 27,649.79, S&P 500 rose by 0.63 per cent to 3,112.77, while the tech-heavy Nasdaq surged 0.54 per cent to 8,566.67 on Wednesday’s (December 4th) Wall St. closure.