Monday, December 9, 2019
TODAY’S GAME PLAN:
President Trump’s impeachment process continues today as House investigators give their closing summations. No economic data or major earnings are scheduled. Fed speakers are in media blackout until Dec. 11 meeting.
Markets will focus on looming Sunday deadline for additional U.S. tariffs on Chinese goods, as well as policy meetings this week by the European Central Bank and the Federal Reserve, and the U.K. general election. The unexpected drop in China’s exports in November shows one reason why China wants to agree on a phase one trade deal. Total exports in November dropped 1.1% from a year ago, and to the U.S. they were down 23%.
EQUITIES: pre market movers at bottom of this page
E-mini S&P is -0.06%, Nasdaq -0.09%, RTY -0.18%, Dow future -0.08%. We will continue to use the 3155 area in SPX as short term key resistance area. A break of 3139 today would likely see 3119* area.
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