US stocks end higher but can't hold onto new highs made in the last hour of trading

Technical Analysis

Author: Greg Michalowski | sp-index

Helped by hope of US/China. Weaker ADP employment and ISM nonmanufacturing limited the run higher

The US stocks are ending the session higher on the day but a late day rally that made new day highs could not be sustained.

Catalyst to the upside was hope for US/China trade deal. Hurting the sentiment (or limiting the upside) was weaker ADP employment change and weaker than expected ISM nonmanufacturing index.

The final numbers are showing:
  • S&P index, +19.56 points or 0.63% at 3112.76. The high reached 3119.38.
  • NASDAQ index, +46.029 points or 0.54% at 8566.67. The high reached 8584.88.
  • Dow industrial average rose 146.97 points or 0.53% at 27649.78. The high price extended to 27727.45

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