U.S. Stock Market

Dec S&P 500 E-minis this morning are up +21.00 points (+0.77%) at a 1-1/2 wek high. Thursday's closes: S&P 500 +1.06%, Dow Jones +1.06%, Nasdaq 100 +1.47%. The S&P 500 on Thursday rallied to a 1-week high and closed higher on reduced trade concerns after President Trump tweeted that progress has been made in trade negotiations with China. Stocks were also boosted by signs of strength in the U.S. labor market after weekly continuing unemployment claims unexpectedly fell -7,000 to a 45-1/4 year low of 1.631 million, stronger than expectations of +4,000 to 1.640 million. Stocks were undercut by the -2.1 point decline in the Oct ISM manufacturing PMI to 57.7, weaker than expectations of -0.8 to 59.0 and the slowest pace of expansion in 6 months.