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U.S Market Wrap 13 December 2018

Posted by James Nasioulas on 13-Dec-2018 10:15:12

U.S markets finished stronger on Wednesday as a series of comments regarding trade gave investors a more optimistic tone for the day. All major U.S indices rose with the Dow +0.64%, the S&P 500 +0.54% and the Nasdaq +0.95%.

Shares of Caterpillar (CAT) and Boeing (BA) rallied on the news rising by 1.7% and 1.4% respectively as it was reported that President Trump said he would consider intervening in the case of arrested Huawei executive if it would assist in U.S-China trade talks. Easing uncertainty in the markets seemed to be a theme on Wednesday as Theresa May won a crucial vote of confidence that caused much uncertainty on Tuesday. The British Pound jumped 1% trading at 1.26310 after the news. Light Sweet crude fell below $52.00 a barrel finding some support at $51.00, whilst gold is trading at $1,245 +0.50%

Some of the bigger movers overnight included Under Armour (UA) shares were down 8.9% after narrowing its earnings outlook. Twitter (TWTR) also made headlines rising 5.2% for the day after becoming the best performing stock in the S&P 500 rallying 17% month to date (See daily chart below). In corporate news Lowe’s (LOW) shares jumped 2.9% after announcing a $10 billion buyback and China-based music streaming company Tencent Music (TME) debuted on the stock exchange rising 7.7%.

twtr 13.12.18

Topics: +U.S. Market Wrap