{"id":109384,"date":"2017-07-21T07:38:52","date_gmt":"2017-07-21T11:38:52","guid":{"rendered":"http:\/\/countingpips.com\/?p=109384"},"modified":"2017-07-21T07:11:58","modified_gmt":"2017-07-21T11:11:58","slug":"us-stocks-end-little-changed","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/us-stocks-end-little-changed\/","title":{"rendered":"US stocks end little changed"},"content":{"rendered":"
July 21, 2017<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

\n
\n

Dow and SP 500 slip while Nasdaq closes at record<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>inched lower on Thursday as weak corporate reports weighed on market sentiment. The dollar resumed the tumble: 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 0.6% to 94.241.\u00a0Dow Jones\u00a0<\/em>industrial average lost 0.1% closing at 21611.78 dragged by 4.1% drop in Home Depot. The\u00a0S&P 500\u00a0<\/em>slipped 0.38 points settling at 2473.45 led by materials and industrials stocks. The\u00a0Nasdaq\u00a0<\/a>index gained 0.1% to 6390.00 in tenth winning session in a row.<\/p>\n

\n
\n

Positive earnings underpin stock prices which rallied to historical highs on expectations of pro-growth policies pledged by President Trump. US quarterly earnings are expected to have climbed 8.6%, according to Thomson Reuters I\/B\/E\/S. About 15% of S&P 500 companies have posted results so far. With investors counting on improving earnings to justify high stock valuations continued political turmoil may spur increased volatility as the Trump administration White House is being distracted by investigations of allegations of Russian meddling into election. Shares of Lowe\u2019s Companies and Home Depot dropped more than 4% on news that Sears will sell Kenmore-branded appliances through Amazon.com. Market\u2019s reaction to positive economic data was muted: initial jobless claims declined, nearing a 44-year low, though the Philadelphia Fed\u2019s manufacturing survey reported current business conditions also declined in July to the lowest this year.<\/p>\n<\/div>\n<\/div>\n

\n
\n

Euro jumps after Draghi comments<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>ended lower on Thursday as\u00a0euro\u00a0<\/em>rallied after European Central Bank President Mario Draghi said officials would discuss altering the central bank\u2019s bond-buying program in an autumn meeting. The\u00a0British Pound\u00a0<\/em>extended losses against the dollar. The Stoxx Europe 600 closed 0.4% lower. Germany\u2019s\u00a0DAX 30\u00a0<\/a>slipped 0.04% closing at 12447.25. France\u2019s\u00a0CAC 40<\/em>\u00a0lost 0.32% while UK\u2019sFTSE 100\u00a0<\/em>ended 0.77% higher at 7487.87. Indices opened lower today.<\/p>\n

\n
\n

Investors sold the exporter stocks as stronger euro hurts their earnings outlook by making euro-zone products more expensive in overseas markets. As Mario Draghi emphasized that inflation was still subdued, his words that the ECB Governing Council won\u2019t really think about tapering until the fall were interpreted that policy makers consider tapering the \u20ac60 billion a month bond purchases program in 2018. The euro advanced 1% against the dollar, weighing on stock indices.<\/p>\n<\/div>\n<\/div>\n

\n
\n

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

Asian stock indices<\/b>\u00a0are mostly lower today.\u00a0Nikkei\u00a0<\/em>lost 0.2% to 20095.50 as yen continued the rise against the dollar despite Bank of Japan indicated it will keep the ultra-loose monetary policy longer than other major central banks. Chinese stocks are mixed: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.2% while Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.02% higher. Australia\u2019s All Ordinaries Index is down 0.7% despite continued slide of the Australian dollar against the greenback.<\/p>\n

\"<\/p>\n

\n
\n

Oil advances ahead of OPEC meeting<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are edging higher as members of the Organization of the Petroleum Exporting Countries (OPEC) are scheduled to meet other major producers in St. Petersburg, Russia, on Monday to discuss whether more action is needed to support prices. Prices retreated on Thursday on concerns about continued global inventory glut. Brent for September settlement fell 0.9% to end the session at $46.92 a barrel on the London-based ICE Futures Europe exchange.<\/p>\n

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

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

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 and SP 500 slip while Nasdaq closes at record US stocks\u00a0inched lower on Thursday as weak corporate reports weighed on market sentiment. The dollar resumed the tumble: 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 0.6% to […]<\/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-109384","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109384","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=109384"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109384\/revisions"}],"predecessor-version":[{"id":109393,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109384\/revisions\/109393"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}