While the Trump-Putin meeting continues to stretch on way beyond its 30 minutes scheduled time, prompting media types to speculate endlessly, AP reports that sources are saying the United States and Russia are prepared to announce a cease-fire in Syria very soon…
As AP reports, U.S. officials say the United States and Russia have reached an agreement for a cease-fire in southwest Syria.
The cease-fire is set to take effect July 9 at noon Damascus time. Word of the cease-fire has emerged as President Donald Trump is meeting with Russian President Vladimir Putin.
The officials weren’t authorized to discuss the cease-fire publicly and spoke on condition of anonymity.
The deal marks a new level of involvement for the U.S. in trying to resolve Syria’s civil war.
A separate deal to create “de-escalation zones” was brokered between Russia, Turkey and Iran, but not the U.S., but follow-up talks this week in Kazakhstan to finalize a cease-fire in those zones failed to reach a deal.
The U.S. and Russia have been backing opposing sides in Syria’s war.
This is a positive sign that there is some rapprochement between the two nations… but John McCain won’t like it.
And here’s CNN worrying about the length of the meeting..
The US major stock indices are ending the day lower and nearer the lows for the day.
The S&P was lower by -0.94% or -22.79 points to 2409.75. The high reached 2424.28. The low reached 2407.70.
The Nasdaq is down -61.39 points or -1.00% to 6089.46. The high reached 6127.98. The low reached 6081.96
The Dow is down -158 points or -0.74% to 21320.04. The high reached 21433.10. The low reached 21305.38.
Technically, the price of the S&P index closed below it’s 50 day MA at 2413.54. The price has closed below the 50 day MA 9 other times in 2017. In April the price stayed below the MA for 7 trading days. In May, the price close below for 2 days. The MA is higher today (2413.54), than in April (at 2354), and in May (at 2369). That makes it an easier hurdle to get below.
The 100 day MA is at 2386.87 currently. A move to 100 day MA would only be a -2.72% fall from the June high.
The 200 day MA is at 2298.20. A move to it would represent a -6.32% decline.