Stop the presses. There’s a trade deal with China. Well, maybe there’s the makings of a trade deal with China. Wait, hold on, it appears that there might be something we can call a trade deal with China. My head hurts. Wait, we have a “substantial phase one deal”. Whatever that means, the bulls liked it (but we did lose 200 Dow points from the gains in the last 15 minutes of trading).
For the day, the Dow Jones Industrial Average was up 319 points to finish the day at 26,816. The S&P 500 was up 32 points to close at 2,970. Gold was down $14 to trade at $1,486 per ounce, while oil was up $1.24 to trade at $54.79 per barrel WTI.
Wow, this might have been the most headline driven week of the year. What the deal is with China is far from certain at the moment, but it at least appears that tensions have been somewhat eased. Let’s catch our breath, watch a little baseball this weekend, and get back at it next week.
Have a great weekend everyone.