Why Can’t the S&P 500 Get Through 3000?

What’s in Today’s Report:

  • Why Can’t the S&P 500 Get Through 3000?
  • Brexit Resolution Today?
  • Weekly Market Preview (There’s a big speech coming on Thursday)
  • Weekly Economic Cheat Sheet

Futures are slightly higher on continued hopes of Brexit resolution and improvement in U.S./China trade relations.

The vote on the new Brexit deal was delayed in Parliament on Saturday, but it’s likely to happen today or tomorrow and passage of the deal is (narrowly) expected.

On U.S./China trade, Chinese Vice Premier Liu He made positive comments on U.S./China trade negotiations although he didn’t say anything new.

Today there are no economic reports and just one Fed speaker, Bowman (11;40 a.m. ET).  So, the focus will be on Brexit headlines as a final vote on the Brexit deal in Parliament could happen later today.  If the Brexit deal passes Parliament, we could see a short term rally, although again I don’t think Brexit resolution is enough, by itself, to send stocks sustainably higher from here.