{"id":108490,"date":"2017-07-04T06:20:23","date_gmt":"2017-07-04T10:20:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=108490"},"modified":"2017-07-04T05:57:00","modified_gmt":"2017-07-04T09:57:00","slug":"us-stocks-start-july-with-gains","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/us-stocks-start-july-with-gains\/","title":{"rendered":"US stocks start July with gains"},"content":{"rendered":"
July 4, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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S&P 500 and Dow advance while Nasdaq slips<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>closed higher on Monday in an abbreviated session ahead of the Fourth of July holiday lead by gains in energy and financial stocks. The dollar rebounded after previous week\u2019s losses: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, gained 0.56% to 96.194.\u00a0S&P 500\u00a0<\/em>added 0.2% settling at 2429.02 led by 2% gain in energy shares which outweighed 0.9% loss in technology stocks. The\u00a0Dow Jones\u00a0<\/a>industrial average rose 0.6% to 21479.27, lifted by Goldman Sachs and JP Morgan shares, up 2.4% and 2.04% respectively. The\u00a0Nasdaq\u00a0<\/em>composite index lost 0.5% closing at 6110.06.<\/p>\n

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European stocks pressured by stronger euro<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>finished higher on Monday led by commodity shares after positive manufacturing data from China. Both theeuro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>ended lower against the dollar. The Stoxx Europe 600 index rose 1.1%. The\u00a0DAX 30\u00a0<\/em>closed 1.2% higher at 12475.31. France\u2019s\u00a0CAC 40\u00a0<\/em>outperformed gaining 1.5% and UK\u2019s\u00a0FTSE 100\u00a0<\/a>added 0.9% to 7377.09. European stocks opened 0.4% – 0.5% lower today.<\/p>\n

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Commodity shares advanced after a private gauge of China\u2019s manufacturing activity, rebounded in June. Caixin manufacturing PMI indicated an expansion in manufacturing sector, a major user of natural resources. Euro remained subdued even after euro-zone Manufacturing PMI final reading for June was upgraded to 74-month high. Pound traded lower after the June Manufacturing PMI slid to a three-month low at 54.3 in June. Bank stocks gained on expectations of higher interest rates sooner than previously believed after hawkish comments by ECB chief Draghi and Bank of England governor Carney last week.<\/p>\n

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Asian stocks fall as North Korea test fires missile<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly lower today as a missile launch by North Korea undermined market confidence.\u00a0Nikkei\u00a0<\/em>closed 0.1% lower at 20032.35 as yen strengthened against the dollar on heightened haven demand on news North Korea test-launched an intermediate-range ballistic missile into the sea off Japan\u2019s east coast. Chinese stocks are lower: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.4%, while Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 1.4% lower. Australia\u2019s All Ordinaries Index is up 1.6% as Australian dollar accelerated the slide against the greenback as Australia’s central bank left interest rates unchanged at 1.5% and signaled a neutral policy stance despite recent economic improvement.<\/p>\n

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Oil down on lower US production data<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are edging lower today snapping eight session winning streak spurred by data showing a decline in US oil output and drilling activity. Trading is expected to be thin today with many US traders on holiday celebrating independence day. September Brent crude gained 1.9% settling at $49.68 a barrel on London\u2019s ICE Futures exchange on Monday.<\/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 S&P 500 and Dow advance while Nasdaq slips US stocks\u00a0closed higher on Monday in an abbreviated session ahead of the Fourth of July holiday lead by gains in energy and financial stocks. The dollar rebounded after previous week\u2019s losses: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s […]<\/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-108490","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108490","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=108490"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108490\/revisions"}],"predecessor-version":[{"id":108492,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108490\/revisions\/108492"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=108490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=108490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=108490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}