The Gilmo Report

November 10, 2019

November 9, 2019

Dueling U.S.-China trade news has been the order of the day, although the merit of various reports as actual news remains suspect. Reports of “agreements in principle,” comments from either side about what might or might not be included in a so-called Phase One trade deal and the like have moved the markets. The bottom line is that no trade deal has been inked.

All the hopeful musings about trade were quashed on Friday when President Trump told reporters that he has not yet agreed to roll back tariffs in any Phase One agreement. But then, he didn’t say that he couldn’t at some point. After spinning around, the indexes all ended the day up to maintain their hopeful tone.

All the Big Three major market indexes posted all-time closing highs.  The S&P 500 and the Dow look similar to the NASDAQ Composite Index as they closed higher but below Thursday’s intraday highs on much lighter volume. The Naz led the rally with a 0.48% move vs. the S&P’s 0.26% and the Dow’s 0.02%.

 

The rest of this report is available for Gilmo Report Members only.
The full report will be available 45 days after it is posted. For immediate access: login or subscribe

Gil Morales & Company, LLC (“GMC”), 8033 Sunset Boulevard, Suite 830, Los Angeles, California, 90046. GMC is a Registered Investment Adviser. This information is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to GMC, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Gil Morales & Company, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2008-2019 Gil Morales & Company, LLC. All rights reserved.