"S&P 500 rises on investor optimism ahead of G20 summit
NEW YORK (Reuters) - The S&P 500 and the Nasdaq closed higher in a broad-based rally on Thursday as investors looked to the G20 summit in Osaka, Japan this weekend for progress in the long-running U.S.-China trade dispute, which has whipsawed markets for months.
The benchmark S&P 500 snapped its four-day losing streak, closing within 1% of its all-time high, reached a week ago.
The Dow closed slightly lower, dragged down by Boeing Co (N:BA).
Optimism fueled by a China Morning Post report that the world's two largest economies have agreed to a tentative trade war truce was dampened by a Wall Street Journal article saying that Chinese President Xi Jinping will present President Donald Trump with a set of conditions to be met by the United States before reaching any settlement.
Expectations of a deal were muddied further when White House economic adviser Larry Kudlow said the United States may move ahead with further tariffs on Chinese goods after the two leaders meet this weekend at the Group of 20 summit in Japan. Trump and Xi are expected to discuss a way forward regarding tariffs and other issues when they meet..."
$STI(^STI.IN)
Important level STI has closed the week on the weekly chart to note.
Read more :
https://www.investingnote.com/posts/1501159
https://martinseah.blogspot.com/2019/06/20...
"S&P 500 rises on investor optimism ahead of G20 summit
NEW YORK (Reuters) - The S&P 500 and the Nasdaq closed higher in a broad-based rally on Thursday as investors looked to the G20 summit in Osaka, Japan this weekend for progress in the long-running U.S.-China trade dispute, which has whipsawed markets for months.
The benchmark S&P 500 snapped its four-day losing streak, closing within 1% of its all-time high, reached a week ago.
The Dow closed slightly lower, dragged down by Boeing Co (N:BA).
Optimism fueled by a China Morning Post report that the world's two largest economies have agreed to a tentative trade war truce was dampened by a Wall Street Journal article saying that Chinese President Xi Jinping will present President Donald Trump with a set of conditions to be met by the United States before reaching any settlement.
Expectations of a deal were muddied further when White House economic adviser Larry Kudlow said the United States may move ahead with further tariffs on Chinese goods after the two leaders meet this weekend at the Group of 20 summit in Japan. Trump and Xi are expected to discuss a way forward regarding tariffs and other issues when they meet..."
https://www.investing.com/news/stock-marke...
STI followed through from yesterday's bullish hammer candlestick to move up 3328.60, the rebound rally high.
It has reached the value zone.
Can it breakout and stay above?
$STI(^STI.IN)
https://www.investingnote.com/posts/1499045