U.S. stock futures are climbing to new record highs this morning as traders are staying optimistic that Washington and Beijing will sign a long- awaited trade deal early this new year. U.S. Treasury Secretary, Steven Mnuchin , said that the deal had already been written and translated and it would not face any renegotiation. “We are going through a technical issue now where again the agreement is translated,” Mnuchin said on CNBC. “I don’t expect there’s any changes. We’ll sign the agreement in the beginning of January.” Overall, the increased Chinese purchases of U.S. agricultural, manufactured goods, energy and services will add roughly a half of a point in the next two years to US economic growth. 

This year the S&P 500 is up roughly 28%, on a dovish Federal Reserve, upbeat economic indicators and expectations of the improving trade relations between the world’s two largest economies. The market hit a sixth straight intraday high on Thursday with the benchmark index gaining 1.2% this week.

Resistance is showing 322000 and 322500 while support is checking in around 320300 and 319000.

888-861-1656312-373-4966Series 3 Licensed

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.
Read More