Good End to a Bad Week for StocksPosted 05/24/2019 9:16AM CT |
The U.S. stock market is up this morning along with European stock ending on a good note to a challenging week where trade tensions dominated the market. S&P futures rose 0.6 percent earlier today after President Trump said that there remained a “good possibility” that the negotiations with Beijing could get back on track. He also noted that Huawei, the Chinese tele-com giant, might be involved in a trade deal with China. Durable goods orders fell 2.1 percent in April as transportation equipment orders slid again. Excluding the transportation numbers, orders remained nearly the same as March. UK markets traded higher as Theresa May announced she would be resigning her post as prime minister in a few weeks’ time. This market was also fueled as the UK retail sales came in above the forecasts.
Support in the E-mini S&P is coming in today at 279200 and 277500, with resistance showing around 284500 and again at 288000.
E-mini S&P Jun ’19 Daily Chart