Market Snapshot - Wednesday 11.20.19

DJIA Futures Wednesday 11.20.19

S&P 500 Futures Wednesday 11.20.19

Nasdaq Composite Futures Wednesday 11.20.19

Once again, stocks fall as market sentiment sours on a Reuters report that a phase one trade deal may not be reached by the end of the year. According to the report, trade experts close to the Trump Administration say negotiations for phase one can extend well into 2020 as China seeks a greater degree of tariff rollbacks. Yesterday Trump threatened higher tariffs on Chinese goods should the two nations fail to make a deal.

Meanwhile, the FOMC minutes released today reaffirms the neutral policy outlook Fed Chair Powell announced in his last FOMC press conference. After three consecutive rate cuts, the central bank now sits on the sidelines, monitoring economic growth measures that may or may not signal a material reassessment of their current monetary policy. The Fed noted a positive outlook for the US economy, though they mentioned concerns of elevated geopolitical risks and trade tensions as well as a prominent risk of a slowdown in global economic growth.

The Dow fell 112.93 points or -0.4% closing at 27,821.09. The S&P 500 also pulled back -0.4% to 3,108.46. The Nasdaq slipped -0.5% to end the day at 8,526.73.

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