{"id":102266,"date":"2017-02-17T10:33:35","date_gmt":"2017-02-17T15:33:35","guid":{"rendered":"http:\/\/countingpips.com\/?p=102266"},"modified":"2017-02-17T10:33:35","modified_gmt":"2017-02-17T15:33:35","slug":"dow-jones-hits-6th-straight-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/02\/dow-jones-hits-6th-straight-high\/","title":{"rendered":"Dow Jones hits 6th straight high"},"content":{"rendered":"
February 17, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow Jones records its 6th straight high on Thursday<\/h2>\n<\/div>\n<\/div>\n

US stocks<\/b> were almost flat on Thursday with Dow Jones industrial averaging having risen 0.04% to hit its 6th straight high while S&P 500 lost 0.09% on declining energy stocks. The recent stock market rally was mostly due to the upbeat economic data which point at improving situation in the economy and Trumps\u2019 promises on tax reforms and financial deregulation. Now, as earnings season is almost complete, investors need more actions from Trump to justify further gains. US dollar index<\/a>, a measure of a greenback\u2019s value against a basket of six major currencies, was steady at 100.570 having hit 100.410, its low since February 9. The dollar was close to its low as positive US economic data failed to support Treasury yields. S&P 500 index fell 0.09% to 2,347.23 weighed down by weak performance of energy sector and financials. Dow Jones industrial average added 0.04% to 20,619.77 while Nasdaq Composite lost 0.08% to 5,814.90. Energy sector dipped 1.37% as oil prices retreated on swelling US inventories while other major oil producers are trying to fight oil supply glut. S&P 500 consumer discretionary index is traded with P\/E of 19 while S&P 500 is traded with P\/E of 17. Cisco Systems advanced 2.38% on its positive quarterly report. Wells Fargo lost 0.73% as Credit Suisse downgraded its shares to \u201cneural\u201d from \u201coutperform\u201d. The Q4 2016 earnings for S&P 500 companies have risen 7.3% so far, according to Thomson Reuters. Today in US the leading indicators will come out at 16:00 CET. AT 19:00 CET the Baker Hughes rig count will come out.<\/p>\n

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European stocks retreat after Trump\u2019s press-conference<\/h2>\n<\/div>\n<\/div>\n

European stocks<\/b> fell on Friday as investors closed risky positions as stocks retreated from recent market highs and following the press-conference with Donald Trump. STOXX EUROPE 600 index lost 0.08% to 369.81 points on Friday but still was poised to end this week 0.5% higher due to positive corporate earnings. British FTSE 100 lost about 0.21% in the first hour of trading, the energy and financials being top decliners. German DAX 30 was little changed after Allianz SE stocks fell 2.3%.<\/p>\n

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Asian stocks eased on Friday<\/h2>\n<\/div>\n<\/div>\n

Asian stocks<\/b> fell on Friday after the recent surge as investors booked profits after the Thursday\u2019s press-conference with Donald Trump. Japanese Nikkei lost 0.6% to 19,234.62 points on stronger yen and weaker financials. The benchmark dipped 0.7% for a week. The broader TOPIX index slid 0.4% to 1,544.54. USDJPY<\/a> rose 0.2% to 113.41 yen on Friday having lost 0.8% the day before. Chinese stocks fell having previously hit a 2-month high after the securities regulator expressed its will to relax some restrictions of stock index futures trading. The CSI 300 index slipped 0.4% having added 0.5%. Hong Kong stocks fell 0.7% but closed this week 1.6% higher.<\/p>\n

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Oil retreats on renewed supply glut worries<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices<\/b> fell on Friday as US stockpiles rose more than expected while OPEC considers extending production cuts beyond the agreed six months. WTI futures fell 0.6% to $ 53.03 a barrel while Brent crude futures<\/a> lost 0.8% to %55.22 a barrel in London.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dow Jones records its 6th straight high on Thursday US stocks were almost flat on Thursday with Dow Jones industrial averaging having risen 0.04% to hit its 6th straight high while S&P 500 lost 0.09% on declining energy stocks. The recent stock market rally was mostly due to the upbeat economic data which […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-102266","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/102266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=102266"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/102266\/revisions"}],"predecessor-version":[{"id":102268,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/102266\/revisions\/102268"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=102266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=102266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=102266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}