{"id":109277,"date":"2017-07-19T07:31:09","date_gmt":"2017-07-19T11:31:09","guid":{"rendered":"http:\/\/countingpips.com\/?p=109277"},"modified":"2017-07-19T07:31:09","modified_gmt":"2017-07-19T11:31:09","slug":"technology-shares-lead-us-equities-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/technology-shares-lead-us-equities-higher\/","title":{"rendered":"Technology shares lead US equities higher"},"content":{"rendered":"
July 19, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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

US stocks\u00a0<\/b>closed at record highs on Tuesday led by technology stocks. The dollar weakened: 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, fell 0.5% to 94.66. The\u00a0S&P 500\u00a0<\/em>added 1.47 points settling at record high 2460.61 as gains in technology stocks offset losses in telecom and energy shares.\u00a0Dow Jones\u00a0<\/em>industrial average fell 0.3% closing at 21574.73 dragged by 2.6% drop in Goldman Sachs shares as the company reported a 40% decline in trading revenue. The\u00a0Nasdaq\u00a0<\/a>composite index rose 0.5% to fresh record high 6344.31 in an eighth winning session in a row.<\/p>\n

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Stock market rally, driven by expectations of President Trumps pro-growth policy promises, had stalled on concerns stock valuations are at historical highs. Positive earnings reports boosted investor confidence with Netflix shares jumping 13.5% on better than expected results, leading tech stocks higher. Treasury yields declined after Trump\u2019s administration failed to win support for the health care legislation. In economic news both US import prices and home builders\u2019 confidence index fell in June.<\/p>\n<\/div>\n<\/div>\n

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European markets retreat<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>ended lower on disappointing earnings reports. The\u00a0euro\u00a0<\/em>rose to fourteen-month high against the dollar while\u00a0British Pound\u00a0<\/em>extended losses. The Stoxx Europe 600 fell 1.1%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>lost 1.3% closing at 12430.39. France\u2019s\u00a0CAC 40<\/em>\u00a0retreated 1.1% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>slipped 0.2% to 7390.22. Markets opened 0.3%-0.4% higher today.<\/p>\n

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Continued euro rally ahead of the European Central Bank Thursday policy meeting also weighed on regional indices. Stronger euro makes products of European exporters more expensive and less competitive. The Greek government postponed plans to issue new debt in the global bond market as it waits for a debt sustainability analysis from the International Monetary Fund. In economic news the ZEW institute reported German economic sentiment dropped in July, but the outlook for Europe\u2019s largest economy continues to be favorable. UK inflation eased to 2.6% in June.<\/p>\n<\/div>\n<\/div>\n

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Asian markets advance<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are higher today underpinned by upbeat economic data from China.\u00a0Nikkei\u00a0<\/em>rose 0.1% to 20020.86 as yen was little changed against the dollar. Chinese stocks are rising: the\u00a0Shanghai Composite Index\u00a0<\/em>is 1.4% higher and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.5%. Australia\u2019s All Ordinaries Index is up 0.8% despite continued rise of Australian dollar against the greenback.<\/p>\n

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Oil higher ahead of US inventory report<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are rising today ahead of the official US inventory report. Prices ended higher yesterday on news Saudi Arabia is considering a 1 million barrel-a-day cut to its crude exports. September Brent crude rose 0.9% to $48.84 a barrel on London\u2019s ICE Futures exchange on Tuesday. The American Petroleum Institute reported 1.6 million barrels rise in US inventories last week to 497.2 million barrels. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories. Analysts polled by S&P Global Platts expect a decline of 3 million barrels in crude inventories.<\/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 and S&P 500 hit new records while Dow slips US stocks\u00a0closed at record highs on Tuesday led by technology stocks. The dollar weakened: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.5% to 94.66. The\u00a0S&P 500\u00a0added 1.47 […]<\/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-109277","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109277","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=109277"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109277\/revisions"}],"predecessor-version":[{"id":109285,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109277\/revisions\/109285"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}