Stocks closed higher for the first time in five days on renewed optimism that an all-out trade war can be averted even after the U.S. decision to slap fresh tariffs on Chinese goods last Friday morning. While a late-day push sent the S&P 500 into positive territory, the bellwether still finished down on the week by the most since just before Christmas. Ten of the 11 industry sectors gained after all started the day in the red. U.S. and Chinese officials wrapped up high-level trade talks on Friday, lacking a deal yet avoiding a breakdown in negotiations even after President Donald Trump boosted tariffs on $200 billion in goods and threatened to impose more. In Asia, the Shanghai benchmark jumped 3.1% as Chinese state-backed funds bought domestic shares. Treasuries continued to benefit as investors sought havens, with the benchmark 10-year note yield ending the week lower. The dollar weakened after a report showed inflation rose less than forecast in April. Still, with China yet to specify how it will retaliate against U.S. duties, investors stumbled to the end of a bruising few days after seeing almost $600 billion in equity market value wiped out. The U.S. gave its bottom line in talks in Washington, saying Beijing had three to four weeks more to reach an agreement before the Trump administration acts again. However after more tweets from President Trump over the weekend Stocks in Asia fell along with U.S. Equity Futures, the yuan and Treasury yields as investors awaited details on the counter-measures China warned it would impose following last week’s escalation in the trade war between the world’s top two economies. With no date scheduled for a resumption in bilateral talks, shares dropped in Shanghai and Seoul, while declines were more limited in Tokyo. Hong Kong is closed Monday for a holiday. S&P 500 Index Futures fell as much as 1.2%, as most of Friday’s late gains were reversed overnight.
To mark my 1825th issue of TraderNoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoblecom for details
For anyone following my Platinum Service it made 70 points on Friday and is now ahead by 1021 points for May, having made 955 points in April, 1027 points in March, 1013 points in February, 1671 points in January, 2803 points in December, 1541 points in November and 2094 points in October. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points
I have a YouTube Channel which contains recent interviews I have given. This can be viewed by clicking HERE Please subscribe to this for new interview notification