{"id":108828,"date":"2017-07-11T07:37:30","date_gmt":"2017-07-11T11:37:30","guid":{"rendered":"http:\/\/countingpips.com\/?p=108828"},"modified":"2017-07-11T07:37:30","modified_gmt":"2017-07-11T11:37:30","slug":"technology-stocks-lead-us-market-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/technology-stocks-lead-us-market-higher\/","title":{"rendered":"Technology stocks lead US market higher"},"content":{"rendered":"
July 11, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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

US stocks\u00a0<\/b>closed higher on Monday led by gains in technology and materials stocks. The dollar edged higher adding to Friday\u2019s gains after stronger than expected June jobs report: 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 0.1% to 96.056.\u00a0S&P 500\u00a0<\/em>added 0.1% settling at 2427.43. The\u00a0Dow Jones\u00a0<\/a>industrial average slipped less than 0.1% to 21408.52, with a 2.8% drop in Wal Mart shares outweighing gains in Visa and Nike. The\u00a0Nasdaq<\/em>composite index rose 0.4% closing at 6176.39.<\/p>\n

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Treasury yields declined after remarks by European Central Bank policy makers that any shift to tightening from current ultra-loose policy will not be soon as inflation is yet below the ECB target of near but just below 2%. Investors are focusing now on quarterly earnings with Citigroup, JP Morgan and Wells Fargo reporting their earnings on Friday.<\/p>\n

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German stocks lead European markets<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>finished higher on Monday led by German shares after upbeat exports data. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound<\/em>ended extended losses against the dollar. The Stoxx Europe 600 index rose 0.4%. The\u00a0DAX 30\u00a0<\/em>closed 0.5% higher at 12445.92. France\u2019sCAC 40\u00a0<\/em>gained 0.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/a>added 0.3% to 7370.03. European stocks opened 0.1% – 0.3% higher today.<\/p>\n

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German stocks led European markets higher after Germany\u2019s statistics office Destatis reported German exports jumped 14.1% in May compared with a year ago due to strong demand from outside the European Union. German government bond yields declined further despite comments by ECB officials over weekend suggested the ECB is not planning a tapering of its \u20ac60 billion monthly purchases of bonds. Government bond yields have been falling last two weeks after policy makers of major central banks including Federal Reserve, ECB, Bank of England and Bank of Canada signaled a readiness to end the ultra-loose monetary policies as economic performance improved.<\/p>\n<\/div>\n<\/div>\n

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Asian stocks mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly mixed today as investors await Fed Chair Yellen\u2019s testimony on monetary policy on Wednesday.\u00a0Nikkei<\/em>closed 0.6% higher at 20195.48 as yen weakness against the dollar continued, with yen hitting four-month low. Chinese stocks are lower: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.3%, while Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 1.6% higher. Australia\u2019s All Ordinaries Index is up 0.1% despite continued rise in Australian dollar against the greenback.<\/p>\n

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Oil up on strong US demand expectations<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are extending gains today on strong demand outlook for coming weeks. Prices got a lift from a Bank of America Merrill Lynch report weekly US gasoline demand data “compares favorably to the five-year average and miles driven also continue to grow year-on-year.” Prices ended higher previous day on talks Organization of the Petroleum Exporting Countries is considering putting a cap on how much oil Nigeria and Libya can produce. The two members were exempt from the OPEC agreement among major oil producers to cut around 1.8 million barrels per day (bpd) of production between January this year and March 2018. However OPEC exported 25.92 million bpd in June, 450,000 bpd more than in May as Nigeria and Libya increased output. September Brent crude gained 0.4% settling at $47.06 a barrel on London\u2019s ICE Futures exchange on Monday.<\/p>\n

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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 Nasdaq advance while Dow slips US stocks\u00a0closed higher on Monday led by gains in technology and materials stocks. The dollar edged higher adding to Friday\u2019s gains after stronger than expected June jobs report: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a […]<\/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-108828","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108828","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=108828"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108828\/revisions"}],"predecessor-version":[{"id":108834,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108828\/revisions\/108834"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=108828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=108828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=108828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}