{"id":113617,"date":"2017-09-27T07:38:44","date_gmt":"2017-09-27T11:38:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=113617"},"modified":"2017-09-27T06:59:18","modified_gmt":"2017-09-27T10:59:18","slug":"us-broad-stock-market-edges-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/us-broad-stock-market-edges-higher\/","title":{"rendered":"US broad stock market edges higher"},"content":{"rendered":"
September 27, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Technology shares recover pushing US market higher<\/h2>\n<\/div>\n<\/div>\n

US stocks<\/b>\u00a0inched higher on Tuesday as Federal Reserve chair Janet Yellen reiterated the case for further rate increases. The dollar strengthened: 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 0.4% to 92.99. The\u00a0S&P 500\u00a0<\/em>added 0.3 points settling at 2496.84, led by technology stocks.\u00a0Dow Jones\u00a0<\/em>industrial average slipped less than 0.1% closing at 22284.32, posting fourth straight daily loss. The\u00a0Nasdaq\u00a0<\/a>composite index gained 0.2% to 6380.16 helped by 1.7% gain in Apple shares.<\/p>\n

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Treasury yields inched higher as Yellen said the Fed should be wary of \u201cmoving too gradually\u201d as this may result in rising wages, causing accelerating inflation. Yellen\u2019s hawkish comment in a speech in Cleveland reinforced the case for another rate hike this year: fed funds futures traders are pricing in a 78% chance of a third rate hike this year, compared with a 72% chance on Friday, according to CME Group\u2019s FedWatch tool. In economic news, Case-Shiller US home price index rose 5.9% in July, compared with a 5.8% increase in June. However, August new home sales slipped to an annual rate of 560,000 from 580,000 reported in July.<\/p>\n<\/div>\n<\/div>\n

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European stocks extend gains<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>closed marginally higher on Tuesday in cautious trade. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>extended losses against the dollar. The Stoxx Europe 600 inched 0.03% higher. Germany\u2019s\u00a0DAX 30\u00a0<\/a>gained 0.1% closing at 12605.20. France\u2019s\u00a0CAC 40<\/em>\u00a0closed marginally higher while UK\u2019s\u00a0FTSE 100\u00a0<\/em>fell 0.2% to 7285.74. Markets opened 0.2%-0.4% higher today.<\/p>\n

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

Asian stock indices<\/b>\u00a0are mixed today as traders await more direction clues after lackluster Wall Street session overnight.\u00a0Nikkei\u00a0<\/em>fell 0.3% to 20267.05 despite continued yen weakening against the dollar. Stocks slipped on ex-dividend price adjustment as the first half of the fiscal year ends on Saturday for interim dividend payments by many Japanese companies, and shareholders as of Tuesday\u2019s close were entitled to those dividends. Chinese stocks are higher: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.1% higher and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.5%. Australia\u2019s All Ordinaries Index is down 0.1% despite weaker Australian dollar against the greenback.<\/p>\n

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

Oil futures prices\u00a0<\/b>are lower today ahead of official US crude oil inventory report. after Iraq\u2019s oil minister said OPEC and other crude producers were considering extending or even deepening a supply cut. The American Petroleum Institute industry group reported late Tuesday US crude stocks fell by 761 thousand barrels last week as refinery crude runs rose by 1.3 million barrels per day. Prices fell yesterday on expectations of higher US inventory: SP Global Platts survey forecast 1.3 million barrels rise. November Brent crude fell 1% to $58.44 a barrel on London\u2019s ICE Futures exchange on Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil 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 Technology shares recover pushing US market higher US stocks\u00a0inched higher on Tuesday as Federal Reserve chair Janet Yellen reiterated the case for further rate increases. The dollar strengthened: 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, rose 0.4% 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-113617","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113617","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=113617"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113617\/revisions"}],"predecessor-version":[{"id":113624,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113617\/revisions\/113624"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=113617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=113617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=113617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}