[Thursday, August 29, 2019]
As trade tensions eased markets moved solidly higher today. The U.S. and China agreed to further talks and global bond yields stabilized. Shares gapped at the open and held on to gains in a solidly positive session. With today’s gains stocks are on track for the best week since early June. The broader S&P 500 has reduced the current month’s losses to less than -2% By the numbers the S&P 500 was up +36.64 to 2,924.58, the Dow added +326.15 to 26,362.25 and the Nasdaq Composite gained +116.51 to 7,973.39. The Russell 2000 outperformed again with +24.01 points to 1,496.72. All 11 S&P Groups were higher save a fractional loss in Consumer Staples. Industrials and Technology led the day. Crude prices closed higher, WTI futures settling at $56.61 per barrel. Gold slipped to 1,536.70 an ounce. The 10-Year Bond gained 5 bps to yield 1.5160% VIX volatility ended lower at 17.88.