November 27, 2018

The major indices were under pressure most of the day as President Trump’s comments cast doubt about a deal being struck on US-China trade. Ahead of the all-important summit between leaders of the G-20, which includes Trump and China’s Jinping, the President told the Wall Street Journal that it was “highly unlikely” that the US would delay from increasing tariffs on $200 billion in Chinese goods to 25% and also suggested a 10% tariff on laptops and iPhones imported from China. Shares of Apple dropped slightly on the comments while steel stocks fell broadly. At the end of the day, buyers came into the lower market and the major indices closed higher across the board:

DOW +108 at 24748
SP500 +8 at 2682
NASDAQ +.85 at 7082

The 10 Year Treasury yield closed down 2 basis points to yield 3.05%
Oil prices closed at 51.56 a barrel
Gold prices closed at 1221.00 an ounce

In the days’ stock news:

  • General Motors shares fell after announcing the company plans to slash production at several facilities and lay off more than 14,000 people. GM closed down over 2.5% at 36.69.