Dip-buyers save US stocks from a deeper fall (for now)
The main headline today was a report saying US-China talks could extend into 2020 because the sides are deadlocked.
The reaction was quick and the S&P 500 fell as low as 3091. However the dip buyers stepped up to the plate again (are you surprised?) and the index finished at 3108, a
Here is what’s on the economic calendar in Asia today
GMT Japan international securities flows for the week
0030 GMT Reserve
Bank of Australia forex transaction for the month of October
US-China deal is 'in trouble' - CNBC
Four sources 'close to talks' cited by CNBC's Kayla Tausche.
More to come.
Looks like there will be no records, but things could have been worse
With a few minutes ago before the close, the major indices are all lower. It does not seem possible that the market will be able to snatch victory from the jaws of defeat. No records today.
Markets misguided by this week's RBA Minutes - Citi
Citi discusses the RBA policy trajectory in light of this week's RBA Minutes.
For bank trade ideas, .
"RBA November Minutes released yesterday are initially interpreted as
unexpectedly dovish with policymakers agreeing a case could be made to
cut rates at in November. This is new to the policy language
Crude oil futures settle at $57.11
The price of crude oil futures are settling at $7.11. That is up $1.90 or 3.44% on the day. The high price reached $57.25 while the low extended all the way down to $54.76.
How Trump has trapped himself in China talks
President Trump faces a dilemma.
If he stays tough on China, he risks hurting markets and in his mind, the Dow Jones Industrial Average is a top barometer for his Presidency.
The S&P cracks lower but not below the 100 hour MA
The S&P tumbled to new session lows off the latest US/China headlines. However, although the price fell below the 50 hour MA with some momentum (the white MA line at 3105.17 currently), the price of the index could not extend below the 100
USDCHF and USDJPY tried to go lower but the boy that cried wolf stories can't phase the market for long
The USDCHF and USDJPY tried to go lower on the US/China news (on flight to safety flows), but "the boy that cried wolf" stories are having a more difficult time gaining momentum. We've heard it all before.
FOMC minutes: Most officials saw rates as well-calibrated