On Friday the popular averages again closed to the upside after a report that the Chinese government has indicated a willingness to encourage the purchase of more American products. Industrial production and capacity utilization increased in December. Consumer sentiment cooled significantly this month as Trump’s tariff war and shutdown of the government continued. Meanwhile the price of crude oil rose while that for gold fell on Friday.
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The December market plunge occurred amid dysfunction in the US government climaxing in Trump’s partial shutdown of the government when Congress did not include his southern border wall in a funding bill. However the SPY has been rising this month. The surpassing of its 50-
© Curt Renz
Stock Market Update
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