The major US stock indices are closing the day higher but well off their high levels of the day.
- Dow industrial average rose to 54.48 points or 0.62% at 41368.45. At session highs, the index was up 659.25 points
- S&P index rose 32.66 points or 0.58% at 5663.94. At session highs, the index is up 88.82 points
- NASDAQ index rose 189.98 points or 1.07% at 17928.14. At session highs, the index was up 357.84 points
The market got a boost from the UK/US trade deal framework and comments that the US might lower China tariffs to 50% as early as next week..
For China :
- At 145%, goods are not coming in. Inventories will dwindle away, and shelves will be empty.
- At 50%, a small amount of goods may come in. Inventories will dwindle away, and shelves will be less empty, but prices will be higher.
This article was written by Greg Michalowski at www.forexlive.com.
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