- Dow Jones futures are up early Thursday.
- The stock market could record a fifth straight day of gains.
- Red flags persist in the form of Boeing and weak manufacturing activity.
Futures on the Dow Jones Industrial Average (DJIA) are swinging higher early Thursday morning as the stock market looks set to ring in its fifth consecutive day of gains. The Dow ended Christmas Eve with a bangthanks to strong consumer spending dataand the stock market could build upon that positivity today.
On Saturday that fell just before Christmas, US consumersshelled out $ (***************************************************. 4 billion at retailers, according to data from Customer Growth Partners. This was the highest amount spent by consumers in a single day this year, and also in history. Meanwhile, favorable developments for the U.S. in the wake of the trade deal with China could be another catalyst for the Dow today.
Bloombergreports that Chinese imports of soybeans from the UShit a – month-high in November. Inbound shipments of U.S. soybeans into China surged to 2.6 million tons in November as compared to just 1.1 million tons in October. This massive jump can be credited to the trade deal that has been agreed between the two countries and will be signed soon.
This jump in soybean imports by China It is a clear indication that American cargo ships are being cleared by Chinese customs. This sets the stage for an increase in American farm purchases by the Chinese. It won’t be surprising to see if this development has a positive impact on the Dow and the stock market today.
) Dow futures switch to a higher gear as the feel-good factor remains
Dow Jones futures were up points, or 0. (percent, as of 5.) ************************************************* am ET. This indicates that the stock market will open higher on the back of the positive sentiment.
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