What’s in Today’s Report:
- 2019 Market Outlook
- Weekly Market Preview
- Weekly Economic Cheat Sheet (There are a lot of big reports this week)
Futures are higher on the final trading day of 2018 as a positive tweet on U.S./China trade is offsetting more weak Chinese economic data.
President Trump tweeted over the weekend that U.S./China trade talks were making “big progress,” raising expectations for a deal in early 2019.
Chinese economic data missed estimates as the December Manufacturing PMI dropped to 49.4 vs. (E) 50.0, signaling outright contraction. It was the lowest reading since 2016.
There are no notable economic reports or Fed speakers today so I’d expect end of year positioning to dominate trading.