Overnight futures did a gap up open on Sunday night as of 4:45 PM Pacific time. It looks like the reason for the gap up open was a President Trump tweet on Saturday regarding trade negotiations with China.
Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!
— Donald J. Trump (@realDonaldTrump) December 29, 2018
SmallCap 2000 Futures
S&P 500 Futures
The negotiations with China are extremely difficult and no offense to President Trump but I think his tweet should be taken with a grain of salt in light of his history of exaggerating how well trade negotiations are going. Let’s be cautiously optimistic about a trade deal with China. Still, the tweet seemed to be good for at least a gap up open on the futures market but the night is still young.