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…Stacks rally on the open, then lose steam. US-China agree to cease fire in trade war. Check back in 90 days. OPEC considers production cuts. Yield curve flattens. France burns. Markets close Wednesday to honor Bush. Financial Review by Sinclair Noe for 12-03-2018 DOW + 287 = 25,826 SPX + 30 = 2790 NAS + 110 = 7441 RUT + 15 = 1548 10 Y – .02 = 2.99% OIL + 2.16 = 53.06 GOLD + 8.20 = 1231.30 The major stock indices open with a strong rally lost steam through the session. The Dow started the day with more than 500 points to the upside. The Dow and S&P 500 closed above their 50-day moving averages. The Nasdaq ended just below its 50-day average. That should be considered a good sign for the new stock market uptrend. The energy sector was the strongest, with SPDR Energy ETF (XLE) up 2.2%. The price of U.S. crude oil rose 4%. In a strong day for technology stocks, semiconductors shined. The Philadelphia semiconductor index surged 2.7% to the highest level since Oct. 17. At the G20 summit Saturday, Trump and Chinese President Xi Jinping agreed to halt new tariffs that were to be implemented on Jan. 1 for 90-days while trade talks continue. Also, at the G20, Russian President Putin said that he and Saudi Crown Prince Mohammed bin Salman agreed to extend their agreement to curb output to help boost oil prices. Russia will meet with OPEC members at ...
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