Editors Note:

News that a second shutdown is unlikely lifted futures and set the stage for some short covering. With most stocks just treading water and consolidating ahead of the shutdown and Chinese trade talks, there was more than likely a heavy short component to the market. The outlook for both of those events was negative and traders were probably expecting another decline. With an announced compromise by both parties, that would take one of the problems off the table. This was the most immediate and a heavy weight on the market. With the January shutdown taking a half percent off the GDP and created negative consumer sentiment, neither party wanted to go that route again. Futures are up +10.

 

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