On Tuesday night Trump said that “Washington was ahead of schedule to sign a very big portion” of a potential trade deal with China.
Stocks were upbeat on hopes for trade progress and also on the back of renewed Fed sentiment. The CME FedWatch tool shows market participants expect another cut with a 95% probability.
In addition, markets moved higher on good US earnings reports and are expected to be volatile for the rest of the week.
SPX Breaks All-Time High, More Room to Upside
With a number of risk-positive events pushing equities up the SPX marked a fresh ATH yesterday at 3041.
Although expectations remain upbeat, prices are near an exhaustion level that could mark the competition of minute correction c with an ending diagonal near 3048.
