DOW surges to as high as 23864.76 in initial trading and is currently up more than 1.1%. Sentiments are apparently lifted by Trump’s tweet that “Talks with China are going very well!” US 10-year yield also extends recent rebound and is back at 2.71.
Talks with China are going very well!
— Donald J. Trump (@realDonaldTrump) January 8, 2019
Technically, DOW’s break of 23713.93 Fibonacci level is a positive development for stocks. Focus will be on whether it could sustain above this level at close.
Dollar’s reaction is rather muted though. It’s the second strongest for today but there is no upside acceleration yet.