Wall Street hits fresh highs on talk of trade deal signing

Record ID: 1449110

  • Title: Wall Street hits fresh highs on talk of trade deal signing
  • Date: 19th December 2019
  • Summary: NEW YORK, NEW YORK, UNITED STATES (DECEMBER 19, 2019) (REUTERS) (SOUNDBITE) (English) THOMSON REUTERS STOCKS BUZZ, ANALYST, TERENCE J. GABRIEL, SAYING: "Yes, it's been a sustained move higher, but it may have built in a lot of sort of good news and a lot of expectations about the trade agreement moving forward. So, the question is, sort of, can we continue this run into this what can be a seasonally positive period, the way certain traders are looking at it, they're expecting a sort of year-end push. That said, we do see some indications that there may be a lot of complacency here and makes the market vulnerable to some sort of downward reversal. When we see those kinds of streaks, where we see multiple days in a row of new highs or higher highs, it's great while it's going on, but the fact is, once we sort of recognize these streaks and we're aware of them, they may well be closer to an end. So, the question is can we sustain that momentum? And that remains to be seen that it will be able to continue this sort of uninterrupted rise, given the overbought readings and given what seems to be a lot of complacency."
  • Embargoed: 2nd January 2020 21:11
  • Keywords: Dow Jones Industrial Average Nasdaq Composite President Donald Trump S&P 500 Terence J. Gabriel U.S. stocks U.S.-China trade equities stock market tariffs trading
  • Location: NEW YORK, NEW YORK, UNITED STATES
  • City: NEW YORK, NEW YORK, UNITED STATES
  • Country: USA
  • Topics: Economic Events,Equities Markets
  • Reuters ID: LVA002BAN8QRX
  • Aspect Ratio: 16:9
  • Story Text: Wall Street's major indexes resumed their rally with fresh records on Thursday (December 19) as U.S. Treasury Secretary Steven Mnuchin said an initial U.S.-China trade deal would be signed in early January.
    The Dow Jones Industrial Average rose 137.68 points, or 0.49%, to 28,376.96, the S&P 500 gained 14.13 points, or 0.44%, to 3,205.27 and the Nasdaq Composite added 59.48 points, or 0.67%, to 8,887.22.
    (Production: Aleksandra Michalska & Fred Katayama)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2019. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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