US equity indexes closed rather mixed, sp +10pts (0.3%) at 2924. Dow
+0.7% at 26652. The two leaders - Trans/R2K, settled +0.3% and -1.4%
respectively. Near term outlook offers cooling to 2911/05, and then new
historic highs ahead of earnings season.
sp'daily5
VIX'daily3
Summary
October and Q4 began on a positive note, helped by news of US/Canada trade agreement, and a secondary announcement of NAFTA being terminated and replaced with USMCA.
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| Trump with provisional trade agreements |
Of course, the bigger issue is whether the Trump administration can come to an agreement with China. I believe it can.. and I'd look for something to be announced next month, after the midterms (Nov'6th) are out of the way.
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