US stocks open with gains on China deal hopes

Technical Analysis

Author: Greg Michalowski | sp

Major indices are higher. Oil and gold are lower. Dollar is higher

The US major indices are opening higher on the back of hopes for a China US trade deal getting closer. This week, the two global powers will be meeting in Beijing to move the ball down the field for a potential agreement.  

A snapshot of the major indices are showing:
  • S&P up 6.5 points or 0.25% at 2715.18
  • Nasdaq up 32 points or 0.46% at 7331
  • Dow up 74 points or 0.29% at 25180
In other markets, the snapshot shows:
  • Gold is down -$10 now on the back of a stronger dollare
  • Crude oil is down -$1.11 at $51.62. The pair is looking to test the 38.2% of the move up from the Jan 2019 low at $51.40.
Crude oil is down over $1 and tests 38.2% at $51.40
The USD is now the strongest of the major currencies with the JPY still bringing up the rear.The stonger dollar is helping to hurt the commodities (gold and oil)

The USD is the strongest currency today
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