{"id":111929,"date":"2017-08-30T07:15:59","date_gmt":"2017-08-30T11:15:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=111929"},"modified":"2017-08-30T07:04:41","modified_gmt":"2017-08-30T11:04:41","slug":"us-stocks-rise-on-positive-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/us-stocks-rise-on-positive-data\/","title":{"rendered":"US stocks rise on positive data"},"content":{"rendered":"
August 30, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US indices rise on positive consumer confidence and house price data<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>recovered on Tuesday as investor confidence was buoyed by data and President Trump\u2019s measured statement after North Korea fired a missile over Japanese airspace. The dollar rebounded: 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, rose 0.2% to 92.188. The\u00a0S&P 500\u00a0<\/em>rose 0.1% settling at 2446.30 led by technology stocks, with ten out of 11 main sectors closing higher.\u00a0Dow Jones\u00a0<\/em>industrial average gained 0.3% closing at 21865.37 helped by gains in United Technologies and Boeing shares. The\u00a0Nasdaq\u00a0<\/a>composite index rose 0.3% to 6301.89<\/p>\n

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Stocks are trading at historically high valuations as the SP 500 has advanced more than 9% in 2017. Stocks recovered from early losses amid seasonally low volumes which make the market more sensitive to sentiment swings resulting in higher volatility. Trump said \u2018all options are on the table\u2019 after Korean missile test. Positive economic data contributed to sentiment recovery: S&P\/Case-Shiller 20-city index rose 5.7% over year in June, at the same rate as in May. At the same time consumer confidence strengthened in August, and remains just below a 16-year high.<\/p>\n<\/div>\n<\/div>\n

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European markets rebound after Tuesday selloff<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>closed lower on Tuesday as geopolitical tensions flared after North Korea launched a missile over Japan and euro rose above $1.20. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>ended marginally lower against the dollar. The Stoxx Europe 600 fell 1%. Germany\u2019sDAX 30\u00a0<\/a>dropped 1.5% closing at 11945.88. France\u2019s\u00a0CAC 40<\/em>\u00a0fell 0.9% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>lost 0.9% to 7337.43. Markets opened 0.5%-0.7% higher today.<\/p>\n

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The euro rally after European Central Bank chief Draghi didn\u2019t talk down the shared currency in his Jackson Hole speech hurts the outlook of European exporters. Stronger euro makes the products of European exporters less competitive in overseas markets. Markets shrugged off positive economic data: consumer confidence in Germany is estimated to improve further in September, according to GfK. French GDP rose 0.5% in Q2 over previous period, according to the second reading, in line with expectations.<\/p>\n

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

Asian stock indices<\/b>\u00a0are mostly higher today as concerns subsided after North Korea fired a missile over Japan.\u00a0Nikkei\u00a0<\/em>rose 0.7% to 19506.54 helped by a weaker yen against the dollar. Chinese stocks are mixed: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.2% lower while Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 1%. Australia\u2019s All Ordinaries Index is flat despite the continued strength 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 extending gains today ahead of the official US inventory report. Prices closed higher yesterday on expectations of higher US demand for European oil as Hurricane Harvey caused the shutdown of almost quarter of US refineries and 15% of total US crude output. 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 1.5 million barrels in crude inventories. Prices ended higher yesterday after the American Petroleum Institute reported that US crude supplies dropped 5.78 million barrels last week. October Brent crude rose 0.2% to $52 a barrel on London\u2019s ICE Futures exchange on Tuesday.<\/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 US indices rise on positive consumer confidence and house price data US stocks\u00a0recovered on Tuesday as investor confidence was buoyed by data and President Trump\u2019s measured statement after North Korea fired a missile over Japanese airspace. The dollar rebounded: 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-111929","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111929","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=111929"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111929\/revisions"}],"predecessor-version":[{"id":111936,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111929\/revisions\/111936"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=111929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=111929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=111929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}