Day Traders Diary
The major averages are surging today after China said it wished to resolve its protracted trade dispute with the world's largest economy with a "calm" attitude. The Dow Jones Industrial Average is set to open nearly 300 points higher. The S&P 500 and Nasdaq 100 are both set to open a percent higher.
When asked about its ongoing trade war with the U.S., China's commerce ministry reportedly said Thursday that it was opposed to escalating trade tensions. The comments appeared to soothe investor concerns at a time when many are worried about the possibility of a global recession. Trade bellwethers Boeing and Caterpillar are trading up a percent.
Even with the positive developments, U.S. Treasuries have edged lower, pushing yields higher across the curve. The 2-yr yield is up one basis point to 1.52%, and the 10-yr yield is up two basis points to 1.49%. The U.S. Dollar Index is up 0.1% to 98.28. WTI crude is up 0.7%, or $0.37, to $56.15/bbl.
In corporate news, Dollar Tree is up 6.4% and Dollar General is up 6.5% are up following earnings. Best Buy is down 5.9% on mixed results and guidance.
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