{"id":109233,"date":"2017-07-18T06:44:06","date_gmt":"2017-07-18T10:44:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=109233"},"modified":"2017-07-18T06:44:06","modified_gmt":"2017-07-18T10:44:06","slug":"us-stock-market-little-changed-ahead-of-quarterly-reports","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/us-stock-market-little-changed-ahead-of-quarterly-reports\/","title":{"rendered":"US stock market little changed ahead of quarterly reports"},"content":{"rendered":"
July 18, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq advances while S&P 500 and Dow slip<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>closed little changed on Monday as investors await earnings from major companies this week. The dollar edged higher after Friday\u2019s losses following disappointing retail sales and inflation data: 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 0.05% to 95.141.\u00a0S&P 500\u00a0<\/em>slipped 0.01% settling at 2459.14. Only four of the 11 main sectors finished lower led by health care stocks down 0.3%. The\u00a0Dow Jones\u00a0<\/a>industrial average closed down less than 0.1% to 2169.72, with losses in JP Morgan and IBM shares outweighing gains in Microsoft and Home Depot. The\u00a0Nasdaq\u00a0<\/em>composite index rose 0.03% closing at 6321.76.<\/p>\n

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Shares of brick-and-mortar retailers Macy\u2019s and Kohl\u2019s gained more than 2% lifting consumer-discretionary stocks 0.3%. Analysts attribute the rise in traditional retailer stocks, depressed recently by threat from online retailers such as Amazon, to insider buying by executives. Quarterly results from major companies such as Bank of America, Goldman Sachs, Microsoft and General Electric are expected this week to set tone for current earnings season. Stocks valuations are at historical highs and rising earnings are needed to justify them. 68 S&P 500 companies will report earnings this week.<\/p>\n

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Mining shares lead European stocks higher<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>finished higher on Monday led by mining shares supported by China\u2019s strong GDP growth report. The\u00a0euro\u00a0<\/em>extended gains against the dollar while\u00a0British Pound\u00a0<\/em>ended lower. The Stoxx Europe 600 index edged up 0.01%. The\u00a0DAX 30\u00a0<\/em>fell 0.4% to 12587.16. France\u2019s\u00a0CAC 40\u00a0<\/em>slipped 0.1% and UK\u2019s\u00a0FTSE 100\u00a0<\/a>rose 0.4% to 7404.13 as mining shares gianed. European stocks opened 0.1% – 0.3% higher today.<\/p>\n

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Mining shares got a boost from a report after China reported 6.9% GDP growth for second quarter, better than an expected 6.8%. Swedish miner Boliden shares rose 1.3%, copper producer Antofagasta gained 2.3%. In economic news, euro-zone final inflation in June was unchanged from an initial reading of 1.3%.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mostly lower today as dollar resumed the slide with growing doubts President Trump\u2019s administration can deliver on pledges of tax reform and deregulation. Senate Majority Leader Mitch McConnell acknowledged the lack of enough support to dismantle and simultaneously replace much of the Affordable Care Act in a statement Monday night.\u00a0Nikkei\u00a0<\/em>closed 0.6% lower at 19999.91 as yen moved higher against the dollar. Exporters Toyota and Honda fell 1.3% and 1.2% respectively as stronger yen negatively impacts their overseas earnings outlook. Chinese stocks are up: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.3% higher and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is up 0.02% . Australia\u2019s All Ordinaries Index is down 0.1% on continued rise in Australian dollar against the greenback after Reserve Bank of Australia meeting minutes revealed policy makers\u2019 assessment of economy\u2019s outlook has improved.<\/p>\n

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Oil down on oversupply concerns<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are inching lower today on continued oversupply concerns despite sign of strong demand. Data on Monday showed refineries in China increased crude throughput in June to the second highest on record. Prices fell previous day on expectations of higher US shale oil production. The US Energy Information Administration forecast a rise of 113000 barrels a day to 5.585 million barrels a day in August oil production from seven major domestic shale plays compared with July. September Brent crude lost 1% settling at $48.42 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 Nasdaq advances while S&P 500 and Dow slip US stocks\u00a0closed little changed on Monday as investors await earnings from major companies this week. The dollar edged higher after Friday\u2019s losses following disappointing retail sales and inflation data: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against […]<\/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-109233","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109233","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=109233"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109233\/revisions"}],"predecessor-version":[{"id":109245,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109233\/revisions\/109245"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}