Wall Street rebounds, reassured by trade and rising oil prices

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Wall Street rebounds, reassured by trade and rising oil prices

(New York) The New York Stock Exchange ended in the green Wednesday after three sessions of decline, driven by optimism on the Sino-US trade front and by the sharp rise in oil prices.

Its flagship index, the Dow Jones, rose 0.53% to 27,649.78 points.The NASDAQ, with strong technological color, took 0.54% to 8566.67 points, and the expanded S & P 500 index gained 0.63% to 3112.76 points.In the aftermath of Donald Trump, seeming to indicate that a trade agreement with Beijing could be postponed after the presidential election next year in the United States, investors found Wednesday reasons to hope.According to Bloomberg, citing sources close to the negotiations, the first two world powers have in fact approximated a text, which could emerge before the new wave of US customs surcharges scheduled for December 15.”This is a situation where the lashes succeed the pouting,” Peter Cardillo analysis of Spartan Capital Securities.”Today’s enthusiasm has allowed investors to turn to certain values ​​that had declined in the recent decline,” added the expert.The New York market was also buoyed by the strong surge in black gold prices, which mainly benefited the energy sector, whose sub-index within the S & P 500 rose 1.57%.On the eve of the OPEC summit in Vienna, some market players are banking on even greater cuts in cartel production and its allies.Inventories of crude oil in the United States fell for the first time in six weeks, according to weekly figures from the US Energy Information Agency.

Pichai, boss of AlphabetAmong the indicators, job creation in the United States slowed sharply in November, according to the monthly survey by the firm’s business services firm ADP. The private sector created 67,000 jobs last month after 121,000 in October. Analysts were expecting 175,000 new jobs in November.Business growth in the US also slowed in November, according to the ISM professional association index.”This underscores that the official report on the unemployment rate and job creation released Friday may indicate that the job market is starting to crack,” Cardillo said.In the bold market, the 10-year rate on US debt rose after falling sharply the day before. Around 16:35, it stood at 1.772% (against 1.716% at the close on Tuesday).Among the values ​​of the day, Alphabet, the parent company of Google, took 1.87%. The group said Tuesday that Sundar Pichai, already boss of Google, took over the head of Alphabet, replacing Larry Page, co-founder with Sergey Brin of the giant of the internet. Messrs. Page and Brin remain however shareholders and members of the Board of Alphabet.The online travel agency Expedia climbed 6.21% while the group, struggling to adjust to the evolution of its market and undermined by disastrous results, Wednesday dismissed its CEO Mark Okerstrom and its chief financial officer Alan Pickerill.United Airlines sold 0.79%. The airline announced Tuesday that it has ordered 50 Airbus 1321 aircraft to replace its aging Boeing 757 fleet. Boeing’s share price was down 0.92%.

Toronto upThe Toronto Stock Exchange’s S & P / TSX Composite Index climbed 5.16 points to end the session with 16,897.34 points.The first two days of this week were marked by a sell-off, as trade tensions intensified. On Monday, China announced retaliation for the demonstration of support from the United States to protesters in Hong Kong. The next day, US President Donald Trump said he had “no timetable” for a trade deal with China and was ready to wait until after the US election. 2020 to get one.During these two days, the TSX lost nearly 150 points, while the main indices south of the border also ended in the red.This sentiment changed on Wednesday, as investors found hope of reaching a trade deal. The Bloomberg agency quoted informed people of the talks, saying the two countries were approaching an agreement on reducing some tariffs.Now, investors are focusing on the December 15 deadline, Taylor said. If no agreement is reached by that date, the United States will begin imposing a new tariff series on certain Chinese products entering the United States.In Toronto, the energy sector posted the best growth at 2.66%. It was followed by the information technology sector, which gained 1.17%. However, six of Toronto’s eleven largest retail sectors ended the day with a decline, with Consumer Discretionary and Consumer Staples losing 1.63% and 1.15% respectively.In the currency market, the Canadian dollar traded at an average of 75.63 cents US, up from its mid-day level of 75.18 cents US.At the New York Commodities Exchange, crude oil prices climbed from US $ 2.33 to US $ 58.43 per barrel, while gold prices fell from US $ 4.20 to US $ 1480, $ 20 an ounce. The price of copper rose by 3.6 US cents to US $ 2.66 per pound.