In Today's Update:
1) Stocks end a choppy trading session higher as trade talks between the U.S. and China continue. The Dow Jones Industrial Average gained 98.19 or 0.42%, the S&P 500 added 17.75 or 0.70% while the Nasdaq 100 closed higher by 84.61 or 1.26% and the Russell 2000 finished higher by 24.63 or 1.78%.
2) Crude Oil Futures advanced $0.73 or 1.52% after Saudi Arabia announced plans to aggressively cut oil exports while Gold Futures added $4.20 or 0.33% on weakness in the U.S. dollar. The bond market closed slightly lower and the yield on the 10-year treasury note settled at 2.692%.
3) After hitting a 52-week low on December 24th, Crude Oil Futures have been rising but may have a difficult time getting above the $50.00 level. In fact, Crude Oil may actually be setting up for a significant short play down to as low as $26.00.