The major US stock indices are closing the day higher but well off their high levels of the day.

  • Dow industrial average rose to 54.48 points or 0.62% at 41368.45. At session highs, the index was up 659.25 points
  • S&P index rose 32.66 points or 0.58% at 5663.94. At session highs, the index is up 88.82 points
  • NASDAQ index rose 189.98 points or 1.07% at 17928.14. At session highs, the index was up 357.84 points

The market got a boost from the UK/US trade deal framework and comments that the US might lower China tariffs to 50% as early as next week..

For China :

  • At 145%, goods are not coming in. Inventories will dwindle away, and shelves will be empty.
  • At 50%, a small amount of goods may come in. Inventories will dwindle away, and shelves will be less empty, but prices will be higher.
Source: Forex Live