{"id":113750,"date":"2017-09-29T07:20:17","date_gmt":"2017-09-29T11:20:17","guid":{"rendered":"http:\/\/countingpips.com\/?p=113750"},"modified":"2017-09-29T06:39:49","modified_gmt":"2017-09-29T10:39:49","slug":"sp-500-closes-at-fresh-all-time-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/sp-500-closes-at-fresh-all-time-high\/","title":{"rendered":"SP 500 closes at fresh all-time high"},"content":{"rendered":"
September 29, 2017<\/div>
\r\n<\/div><\/div>

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

\n
\n

Market sentiment buoyed by GDP upgrade<\/h2>\n<\/div>\n<\/div>\n

US stocks<\/b>\u00a0continued advancing on Thursday against the background of Q2 GDP upgrade. The dollar weakened: the\u00a0live dollar index<\/a>data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.3% to 93.11.\u00a0Dow Jones\u00a0<\/em>industrial average rose 0.2% to 22381.0 supported by 2.2% increase in McDonald shares. The\u00a0S&P 500\u00a0<\/em>added 0.1% settling at record high 2510.06 led by material shares. The\u00a0Nasdaq\u00a0<\/a>index inched up less than 0.1% closing at 6453.45.<\/p>\n

\n
\n

Investors\u2019 risk appetite was boosted by President Trump\u2019s tax cut proposal unveiled Wednesday which includes a reduction of corporate taxation to 20% from the current 35%. As investors are debating when the tax overhaul legislation may be enacted by Congress and to what extent Kansas City Fed President Esther George said continued rate hikes were needed to maintain stable growth. Economic data were positive: Q2 GDP was upgraded to 3.1% from 3%, jobless claims rose to 272 thousand which could attributed to hurricane effects while the advanced trade gap narrowed to a $62.9 billion deficit in August.<\/p>\n<\/div>\n<\/div>\n

\n
\n

Industrial shares lead European market advance<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>advanced on Thursday led by industrial shares. Both\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>rebounded against the dollar. The Stoxx Europe 600 closed 0.2% higher. Germany\u2019s\u00a0DAX 30\u00a0<\/a>outperformed rising 0.4% to 12704.65. France\u2019s\u00a0CAC 40<\/em>\u00a0rose 0.2% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>added 0.1% to 7322.82. Indices opened 0.2% – 0.3% higher today.<\/p>\n

\"DE<\/p>\n

\n
\n

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

Asian stock indices<\/b>\u00a0are mostly higher today on the back of positive earnings and market sentiment.\u00a0Nikkei\u00a0<\/em>ended marginally lower at 20356.28 recording 3.6% gain over month as yen weakened against the dollar and data showed rising inflation, industrial output and strong demand for labor in August. Chinese stocks are up ahead of manufacturing data due on Saturday ahead of a week-long holiday: theShanghai Composite Index\u00a0<\/em>is up 0.3% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.2% higher. Australia\u2019s All Ordinaries Index is up 0.2% as the Australian dollar extended losses against the greenback.<\/p>\n

\n
\n

Oil extends losses<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are inching lower today. Prices extended losses yesterday: Brent for November settlement lost 0.9% to end the session at $57.41 a barrel on the London-based ICE Futures exchange on Thursday.<\/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 Market sentiment buoyed by GDP upgrade US stocks\u00a0continued advancing on Thursday against the background of Q2 GDP upgrade. The dollar weakened: the\u00a0live dollar indexdata show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.3% to 93.11.\u00a0Dow Jones\u00a0industrial average rose 0.2% to 22381.0 […]<\/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-113750","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113750","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=113750"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113750\/revisions"}],"predecessor-version":[{"id":113759,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113750\/revisions\/113759"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=113750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=113750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=113750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}