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Equity futures rallied on Friday as a result of the easing of the trade war in China and the closure of US markets by the US government, which boosted markets, while early results were mixed.
X
Dow Jones futures rallied to trade 0.2% above fair value. Nasdaq futures were able to avoid early losses and increased by 0.1%. Futures on the S & P 500 Index also rose 0.1%.
Positive gains sent 50 IBD shares SS & C Technologies (SSNC) heading to a point of purchase. NVIDA (NVDA) quickly took the lead among chip stocks, despite mixed results in the fourth quarter. Cover growth (CCG) led marijuana stocks up after third quarter earnings in fiscal year. Working day (WDAY) advanced on an badyst upgrade.
Down, the owner of Rubbermaid Newell Brands (NWL) and XPO Logistics (XPO) fell hard after their income reports. Heavy equipment manufacturer Deere (DE) also suffered a heavy premature loss as trade warfare tariffs eroded its first quarter results.
Nasdaq and Dow Jones push for eight
The Nasdaq composite and the Dow Jones Industrial Average are on track to make their eighth consecutive weekly gain. The Dow is up 1.3% for the week before Friday's session. The Nasdaq has a gain of 1.8%. The S & P 500 index rose 1.4% for the week up to Thursday. He is working on his seventh lead in the last eight weeks.
SS & C, Canopy growth near buying points
Arista Networks, Nvidia and SS & C Technologies all increased after the quarterly results were released. SS & C jumped by almost 6%. This allowed equities to open about 2% below a six-month point of purchase of 61.07. Do not forget that all pre-marketing movements are not pbaded on to the trade.
The Canopy Growth marijuana stock jumped more than 5% in advance, although its Q3 results for the year were disappointed by some estimates. The volatile stock closed Thursday at 49% higher than its May IPO price and at around 13% below a 51.91 buying point in a very deep base. equipped with a handle.
Government's decision
A second stop of the federal government seemed to have been almost avoided early Friday. President Trump on Thursday night would have signed a $ 333 billion spending bill that was pbaded in the House and Senate on Thursday. The bill includes $ 1.38 billion for physical barriers at the US-Mexico border. The president had asked for $ 5.7 billion for border protection and the White House seemed poised to declare a national emergency, which would allow him to mobilize funds from the military construction or engineering corps. army to build border barriers. The chair has to talk about the border situation at 10:00 am ET.
Commercial war with China
The United States and China on Friday concluded negotiations on the trade war with China. Negotiators on both sides agreed to continue negotiations in Washington next week, according to the Wall Street Journal. The goal appears to be a memorandum of understanding outlining general concessions and future rules of engagement, including methods of enforcement. This could serve as a framework for the conclusion of an agreement between President Trump and Chinese President Xi Jinping. Both leaders should hold a summit meeting at a later date.
A memorandum of understanding could allow President Trump to delay the tariff increase scheduled for March 2. The duties currently set at 10% on imports made in China, valued at $ 200 billion a year, would be increased to 25%. China is committed to react in this way if such an increase were achieved.
Brexit News
The British Parliament on Thursday rejected the second business plan of Prime Minister Theresa May at a vote of 303 votes to 258. The vote, the eighth defeat of a draft plan for Brexit, paved the way for for the UK to leave the European Union without any formal business plan in place. Some see such a "difficult" scenario as giving Britain additional leverage over the EU. However, a growing number of companies have warned that an exit without an agreement would require them to relocate their operations. A report from German industry announced on Thursday that one in eight German companies operating in the UK were planning to relocate as a result of Brexit-related concerns. The date set for the exit of Great Britain is March 29th.
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