The Headline
Wall Street Gains Amidst Trade Talk Anticipation
This creates a very poor near-term risk/reward, in our view.
Jonathan Krinsky
BTIG Technical Strategist
The stock market could see a sizable drop if economic contraction does occur.
Goldman Sachs Analyst
Percentage increase in S&P 500
0.4%
1
Technical resistance level in Palantir
$125
1
Technical price barrier
$300
1
Key Facts
- Wall Street is showing modest gains as it anticipates the outcome of crucial trade talks with China.1
- U.S. stocks are drifting higher with the S&P 500 up 0.4% in early trading, aiming to overcome weekly losses.
- Traders are closely monitoring stocks like Palantir, facing technical barriers while awaiting the U.S.-China meeting.1
- In tech stocks, Palantir is facing a dual resistance near the $125 level that traders are mindful of.1
- Premarket trading indicates purchasing activity on tech stocks; however, $300 remains a challenging threshold to pass.1
- The tech sector seems to be settling into a larger bottoming pattern due to uncertainty over tariffs.1
