{"id":114017,"date":"2017-10-04T07:35:14","date_gmt":"2017-10-04T11:35:14","guid":{"rendered":"http:\/\/countingpips.com\/?p=114017"},"modified":"2017-10-04T07:05:45","modified_gmt":"2017-10-04T11:05:45","slug":"upbeat-us-data-buoy-market-sentiment","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/upbeat-us-data-buoy-market-sentiment\/","title":{"rendered":"Upbeat US data buoy market sentiment"},"content":{"rendered":"
October 4, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stock indexes close at fresh highs<\/h2>\n<\/div>\n<\/div>\n

US stock indices<\/b>\u00a0ended at new record highs on Tuesday as positive economic data buoyed risk appetite. The dollar was little changed: 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, inched up 0.01% to 93.619. The\u00a0S&P 500\u00a0<\/em>added 0.2% settling at record high 2534.58.\u00a0Dow Jones\u00a0<\/em>industrial average rose 0.4% closing at fresh all-time high 22641.47, posting fifth straight daily gain. The\u00a0Nasdaq\u00a0<\/a>composite index gained 0.2% to new record high 6531.71.<\/p>\n

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Treasury yields inched lower after gains last week following President Trump\u2019s tax cut proposal and Federal Reserve chair Yellen\u2019s comment the Fed shouldn\u2019t move \u201ctoo gradually\u201d in further rate hikes. Data showing GM and Ford auto sales jumped in September reversing recent downward trend on the back of demand to replace hurricane damaged vehicles buoyed investor confidence. Today ADP private payrolls report will be in focus as ADP data are widely used as nonfarm payrolls predictor. Strong reading will boost likelihood of a third rate hike this year though new jobs are expected to be negatively affected by recent hurricanes.<\/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 higher on Tuesday in aftermath of Catalonia independence referendum. The\u00a0euro\u00a0<\/em>inched higher against the dollar and\u00a0British Pound\u00a0<\/em>extended losses. The Stoxx Europe 600 rose 0.2% . German market was closed for Unity Day holiday. France\u2019sCAC 40<\/em>\u00a0closed 0.3% higher and UK\u2019s\u00a0FTSE 100\u00a0<\/em>rose 0.4% to 7468.11.<\/p>\n

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Euro retraced higher after Monday drop spurred by increased euro-zone political uncertainty following Catalonia independence referendum over weekend. Catalan government has indicated it is considering making a declaration of independence this week. But central government in Madrid has declared the vote illegal and the Constitutional Court is expected to rule against an independence declaration. In economic news UK construction activity slowed unexpected in September, weighing on Pound. On the positive note 0.3% increase in euro-zone producer prices in August was higher than expected.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mixed today in thin trading with China and South Korea markets closed for week-long holidays.\u00a0Nikkei\u00a0<\/em>inched up less than 0.1% to 20626.66 as yen rebounded against the dollar. Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.7%. Australia\u2019s All Ordinaries Index is down 0.8% as Australian dollar climbed against the greenback.<\/p>\n

\"AU<\/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. The American Petroleum Institute industry group reported late Tuesday US crude stocks fell by 4.1 million barrels last week while gasoline stockpiles rose 4.2 million barrels. Prices fell yesterday: December Brent crude fell 0.2% to $56 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 US stock indexes close at fresh highs US stock indices\u00a0ended at new record highs on Tuesday as positive economic data buoyed risk appetite. The dollar was little changed: 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, inched up 0.01% […]<\/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-114017","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114017","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=114017"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114017\/revisions"}],"predecessor-version":[{"id":114039,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114017\/revisions\/114039"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}