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A Little Chit-Chat and a Lot of Spending Rallies the Market.

Posted 09/13/2019 9:29AM CTJeff Yasak

Stock futures are looking to open higher on Friday with growing optimism on the trade talks between the U.S. and China, along with a domestic retail sales number that exceeded expectations. President Trump calmed the markets Thursday by tweeting, “It is expected that China will be buying large amounts of our agricultural products.” 

China’s Xinhua News Agency corroborated this Friday morning buy saying that “The Chinese government is encouraging companies to buy a certain amount of farm products including pork and soybeans and will exempt these goods from additional tariffs”. A measure of retail sales rose at a better-than-expected rate this month, this was led by sales from internet retailers, building materials and auto dealers.  The Commerce Department reported today that retail sales rose .04% in August doubling the expected .02% gain.

Resistance is setting in at 302100 and 303300, with support being 300000 and 299000.

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Jeff Yasak

Senior Market Strategist
Since leaving the corporate world in 1995, Jeff has established a name for himself as a trusted financial advisor and trading advocate—leveraging his studies in finance from the University of Wisconsin-Madison and Loyola University, 25+ years of experience, and a passion for the industry to guide both novice and experienced traders in pursuit of achieving their own financial reward. Jeff began his career as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange—fostering a deep interest in the options market that eventually drove him into the retail futures sector where he spent several years as a broker’s assistant before taking on clients of his own. Operating at the intersection of strategy and success, Jeff seeks to establish meaningful relationships with clients—synthesizing financial data and offering timely insight that informs critical decision-making surrounding money management and trading activities. Well-versed in the futures, securities, equities, and indices markets, Jeff is uniquely positioned to direct his clients to success. With a carefully cultivated combination of experience and expertise, he is able to connect with clients to better understand their goals and offer sound financial guidance that delivers notable bottom-line results.
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