Market Brief: New Week, New Record Highs for US Indices

See a summary of the top market themes and trends from today's US trading session!

View our guide on how to interpret the FX Dashboard.

  • Economic Adviser Kudlow reported that the “Phase One” trade deal between the US and China will be signed in Washington in early January. While the agreement still hasn’t been formalized, the reduction in tariffs was enough to support risk assets again today.
  • US data: The Markit PMI surveys came in around 52, roughly in-line with expectations and consistent with 1.5% GDP growth. The NAHB Housing Market Index surged to a 20-year high of 76, painting a bullish picture for the housing market heading into 2020.
  • FX: The euro was the strongest major currency, with the safe haven Japanese yen seeing the worst performance on the day. We’re also keeping a close eye on USD/SEK after last week’s Riksbank meeting.
  • Commodities: Oil ticked higher in quiet trade (see some longer-term factors that could drive crude’s price) while oil was essentially flat. Bitcoin slipped below the $7k level for the first time this month.

  • US indices closed between 0.5% and 1.0% higher across the board on lingering good vibes from last week’s Phase One trade deal.
  • Energy (XLE) was the strongest sector on the day, while Industrials (XLI) were the weakest. All eleven major sectors gained ground today.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account