Trade headlines keep swinging stocks - this time, higher after a report said a deal is close.
 | WED, DEC 04, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | INTC | 56.02 | -0.05 | -0.09% | | MSFT | 149.85 | +0.54 | +0.36% | | CSCO | 43.89 | -0.39 | -0.88% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | BAC | 33.15 | +0.31 | +0.94% | | GE | 10.90 | -0.09 | -0.82% | | AMD | 39.69 | +0.79 | +2.03% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 39.69 | +0.79 | +2.03% | | SIRI | 6.87 | +0.09 | +1.33% | | INTC | 56.02 | -0.05 | -0.09% | |
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Here's one way to look at the rally to records since mid-August: It could be part of a "blow-off top" to the market.
Just before bull markets end, they often enjoy a flash of brilliance, like a star dying in the sky. CNBC's Fred Imbert writes that stocks may have just hit a blow-off top, based on how they've looked in the past.
The Dow was up 10.5% in a short amount of time, on par with past bull market-ending rallies since 1901.  Stocks, at least, were up Wednesday, breaking a three-day downward trend. It seems any headline about the China-U.S. trade war will bump the indexes one way or the other. On Tuesday, President Donald Trump said he might not sign a trade deal until after the 2020 election, sending stocks sharply lower. On Wednesday, equities recovered after a report, citing unnamed sources, said a deal was close. Neil Dwane, global strategist at Allianz Global Investors, said it's surprising the market still reacts after nearly two years of this. "It's like we've all become Pavlov's dog," he said. "Every time someone says 'trade deal,' we go up or we go down." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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