Trump continues to tweet , and the Chinese start talking about weakening their currency as a way of reducing any economic harm from the trade skirmish with the US. And the market bounces sharply from the lows reached at the end of a very weak Friday session.
Latest prices show the Dow will open at 24102 up 174 , the S&P500 looks like opening at 2618 up 15 , and the Nasdaq 100 looks like opening at 6486 up 56. Oil has strengthened today to be at 62.65 up 59 after falling by 2% on Friday on global growth concerns. The US Dollar index has been firm last week but today it has weakened with EUR at 1.2319 up 38 , the GBP at 1.4159 up 68 , and the JPY is at 106.95 and flat.
No major data due tonight as markets await for further comments from Trump or retaliation by the Chinese
Stock earnings begin to be released on Tuesday and will go for two weeks and most analysts would say the outlook is good with the tax reform helping most sectors.
Daily Chart - WTI Crude Oil futures - (CLc1) - Has broken down from 66 double top formation.