US Futures’ bounce back on renewed trade optimism

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US Futures’ bounce back on renewed trade optimism

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.