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US STOCKS: ESA Close To Recent Highs As Broader Gains Offset Tariff Disruption

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • E-mini S&P 500 at 6034.5 (+0.45%) sits just below session highs, with limited net reaction to the FOMC minutes. It’s close to recent highs of 6040.00 from yesterday and the bull trigger at 6053.25 (Nov 11 high).
  • The technical trend needle points north although there is some way lower until support at 5934.75 (20-day EMA).
  • It’s the fourth consecutive daily increase and leaves the index up 2.3% since Nov 15.
  • Gains are led by utilities (+1.2%) followed by communication services (+0.85%, with Google +1.1% and Meta +1.2%) and consumer discretionary (+0.7%, with Amazon +2.7%).
  • There are clear tariffs impact from Trump’s proposed 25% on Canada and Mexico plus an additional 10% on China: materials lag (-0.7%) whilst industrials (+0.1%) hides -1.1% for transportation. For single names, GM one of the largest losers at -8.1% with exposure to Canada trade disruption.
  • The S&P 500 outperforms today, with Nasdaq 100 (+0.3%), Dow Jones (+0.2%) and a reversal of yesterday’s outperformance for the Russell 2000 at -0.7%.
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  • E-mini S&P 500 at 6034.5 (+0.45%) sits just below session highs, with limited net reaction to the FOMC minutes. It’s close to recent highs of 6040.00 from yesterday and the bull trigger at 6053.25 (Nov 11 high).
  • The technical trend needle points north although there is some way lower until support at 5934.75 (20-day EMA).
  • It’s the fourth consecutive daily increase and leaves the index up 2.3% since Nov 15.
  • Gains are led by utilities (+1.2%) followed by communication services (+0.85%, with Google +1.1% and Meta +1.2%) and consumer discretionary (+0.7%, with Amazon +2.7%).
  • There are clear tariffs impact from Trump’s proposed 25% on Canada and Mexico plus an additional 10% on China: materials lag (-0.7%) whilst industrials (+0.1%) hides -1.1% for transportation. For single names, GM one of the largest losers at -8.1% with exposure to Canada trade disruption.
  • The S&P 500 outperforms today, with Nasdaq 100 (+0.3%), Dow Jones (+0.2%) and a reversal of yesterday’s outperformance for the Russell 2000 at -0.7%.