Delancey Strategies chief strategist Jared Levy says people ‘shouldn’t be afraid’ about the stock market amid President Trump’s impeachment in the House.
U.S. equity futures are leaning to a positive start to the week.
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The three major futures indexes are indicating a small rise when trading begins on Monday.
Concerns over the possibility of a North Korean missile test were contained by signs of further progress in cooling trade tensions between Washington and Beijing as China announced plans to further open its financial markets to private business.
The Ministry of Finance announced on Monday tariff cuts effective Jan. 1 on frozen pork, asthma and diabetes medications, integrated circuit boards and some 850 other products.
The step is intended to promote the coordinated development of trade and environment, the official Xinhua News Agency said.
China’s government repeated a promise on Monday to open its oil, telecom and power markets wider to private competitors.
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Concern rose after North Korea said its leader Kim Jong Un had convened a key ruling party meeting to decide on steps to bolster the country’s military capability. The meeting came amid speculation that the North could abandon diplomacy with the U.S. and launch either a long-range missile or a satellite-carrying rocket if Washington doesn’t accept its demand for new incentives to salvage faltering nuclear negotiations by year’s end.
In Asia, Japan’s Nikkei 225 index was unchanged, the Hang Seng in Hong Kong also was up 0.1 percent and the Shanghai composite index fell 1.4 percent.
Britain’s FTSE 100 rose 0.1 percent, Germany’s DAX was lower by 0.1 percent and the CAC 40 in Paris edged 0.1 percent lower.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 28455.09 | +78.13 | +0.28% |
| SP500 | S&P 500 | 3221.22 | +15.85 | +0.49% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8924.955142 | +37.74 | +0.42% |
Wall Street ended the week with the S&P 500 notching its 10th winning week in the last 11, finishing with a record high for the fourth time.
The Dow Jones Industrial Average and Nasdaq composite also ended the week at new highs.
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Stocks have traditionally climbed in the last five days of each calendar year, plus the first two of the new year. It’s happened often enough that traders call it the “Santa rally.”
The Associated Press contributed to this article.
