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Stocks Bounce Higher, All Eyes On Next Week's G20 Summit
Stocks closed mostly higher on Wednesday, but off of their session highs. The biggest gainer, however, was the small-cap Russell 2000 Index with 1.31%.
The market has lots of ground to make up to erase this week's losses. If not, this will be the second week in a row of lower prices.
Ongoing uncertainty surrounding the U.S./China trade talks continues to unnerve the market. But President Trump and President Xi are set to talk trade at next week's G20 summit. While nobody is expected a breakthrough at that meeting, there's a fair amount of optimism that it will lead to continued talks to where a deal could get done.
Any kind of good news is likely to be cheered by the market. The better the news, the bigger the rally. But for now, we wait.
In other news, Weekly Jobless Claims on Wednesday rose 9,000 to 224K. The 4-week average also moved up some, but remains near 45-year lows.
Leading Indicators rose by 0.1% as expected. And the prior month was revised up by one tenth as well to 0.6%.
And Consumer Sentiment slipped -0.8% to 97.5. Analysts noted that it was a strong reading given the recent pullback in the market. And it continues to hover near its best levels of this 9¾ year expansion!
As I've mentioned before, the U.S. economy is doing great. So no problems there.
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Footfalls at movie theaters have been relatively stable over the past three decades but a spate of hits in 2018 might just make it a record year for the box office. Read More »
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Stocks closed mostly higher on Wednesday, but off of their session highs. The biggest gainer, however, was the small-cap Russell 2000 Index with 1.31%. 
