Tuesday, November 26, 2019
TODAY’S GAME PLAN:
DATA/HEADLINES: U.S. October wholesale inventories data is released at 8:30ET, with September house prices at 9:00ET. Both consumer confidence and home sales are expected to show improvement when they are published at 10:00ET Fed Governor Brainard is due to speak in New York. $41B 5yr auction at 1ET.
Chinese authorities proposed to tighten supervision over its biggest lenders.
In a phone call Tuesday morning, China and the U.S. “reached consensus on properly resolving relevant issues” and agreed to stay in contact on the remaining points for a “phase one” trade deal according to China’s Ministry of Commerce. Market reaction to the statement has been muted.
EQUITIES: pre market movers at bottom of this page
Index futures are flat ahead of the US market open. Fear and Greed Index is now at 70, so nothing to worry about there… SPX has 3155 area as next key short term resistance.
VIX Index has not had a settle below 12 this year. The intraday low is 11.03.
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