- DJIA, put on 237.45 points to reach 26,355.47.
- Nasdaq Composite Index also advanced, putting up 102.72 points, or 1.3%, to close at 7,976.88.
- S&P 500 index added 31.51 points at 2,937.78 for a 1.1% gain.
There was a positive mood mid-week across the markets in a reduction in global political tensions. Risk assets enjoyed the shift in sentiment, with global equity markets responding positively. US benchmarks cheered easing tensions in Hong Kong, along with word that the PBoC will cut the reserve ratio requirement to boost stimulus for the Chinese economy and growing hopes that the U.K. could avoid a disorderly exit from the European Union.
The Dow Jones Industrial Average, DJIA, put on 237.45 points to reach 26,355.47, a gain of 0.9% while the S&P 500 index added 31.51 points at 2,937.78 for a 1.1% gain. The Nasdaq Composite Index also advanced, putting up 102.72 points, or 1.3%, to close at 7,976.88.
US data
The July trade deficit narrowed to USD54bn (from USD55.5bn in the month prior) while exports climbed 0.6% m/m whilst imports fell 0.1% m/m. The deficit with China closed to USD199.8bn in the first seven months of this year, and was down 10.3% YoY.
DJIA levels
The index remains below the key 26500s which guard a run towards the 26900s. On the downside, however, the 1915 to year-to-date Fibonacci retracement measures has the 23.6% marked at 21000 which is placed below the Dec 2018 lows of 21712.
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