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·      S&P500 Technical Analysis: US Stocks end up Thursday in the green above the 2,700.00 level

The S&P500 is having a pullback below the 200-day simple moving average. 

Bulls broke above the 2,700.00 key level. The next level to beat will be 2,763.50 (July 11 low) and 2,800.00 figure. Technical indicators are starting to gain some steam but are not in bullish territories just yet.

However, a break down below 2,700.00 on a daily closing basis would be seen as a warning sign for bulls.

Resistance: 2763.50, 2800.00, 2834.25

Support: 2718.75, 2700.00, 2647.25

·      Asian shares rocketed to three-week highs on Friday while the dollar softened on a report that U.S. President Donald Trump is taking steps to resolve a damaging trade war with China that has cast a pall over the global economy and financial markets recently.

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 2.7 percent to hit its highest level since Oct. 10. It is up 6.4 percent on the week, on course to mark its best weekly performance in three years.

South Korea’s Kospi gained 3.5 percent, the biggest gains in almost seven years, while Hong Kong’s Hang Seng jumped 3.6 percent.

Japan’s Nikkei stock index rose 2.6 percent higher while U.S. S&P500 e-mini futures rose 0.7 percent.

European stocks are expected to follow suit, with financial spread-betters seeing Britain’s FTSE rising 0.9 percent and France’s CAC and Germany’s DAX 1.0 percent each.

Chinese shares surged and the yuan firmed. Chinese blue-chips gained 3.3 percent, and its start-up board added 4.5 percent, also buoyed by President Xi’s pledge on Thursday of more support for private firms.

MSCI China gained 7.9 percent so far this, about the double the 3.5 percent gains in MSCI’s broadest gauge of global stocks, ACWI.

·       Japan’s Nikkei logged the biggest daily gain since March on Friday buoyed by companies which have large exposure in China such as Yaskawa and Fanuc on hopes that U.S.-China trade tension may ease.

The Nikkei share average soared 2.6 percent to 22,243.66, the highest closing level in nearly two weeks and posted the best daily percentage gain since March. For the week, the Nikkei gained 5 percent, the largest weekly gain since July 2016.