Global stock markets and U.S. futures traded mostly higher this morning on hopes that progress has been made in Washington over a fresh economic aid package for struggling workers and businesses.
However, I don’t see that happening until January…
Investors and traders have been waiting on U.S. political leaders to pass a new economic stimulus package to replace expiring unemployment benefits since before the presidential election on Nov. 3. The lack of income is ultimately going to cut consumer spending, which is a big deal because retail sales make up over 70% of the GDP (gross domestic product).
In today’s video, I have more on the biggest factor driving the stock market today… whether the bulls or bears are driving price action… what the divergence on major indexes means… and one low-risk trade opportunity with potential upside.