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Equity

Stocks Keep on Rollin

Posted 11/08/2019 8:46AM CTJeff Yasak

Markets are slightly lower this morning after another record breaking day in the U.S. stock market on Thursday. Markets rallied after a Chinese official said that the U.S. and China have discussed rolling back tariffs, reporters were told these could happen even before the first trade deal is signed. In October the two sides agreed to a preliminary deal. The Dow ended up 0.7%, 182 pts and the S&P 500 up.03%, both were new all-time closing highs. Priscilla Thiagamoorthy, an analyst at BMO stated “”For almost two years now, the US/China trade tussle has posed the biggest headwind to global growth. But with promising signs of progress on the trade front, a shift in global central banks to easing (including three consecutive rate cuts by the Fed this year), and mostly better-than-expected corporate profits, US stocks were pushed to all-time highs,”

Support is checking in today at 307300 and 305900 with resistance showing 309900 and 311200.

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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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