{"id":114541,"date":"2017-10-11T07:17:50","date_gmt":"2017-10-11T11:17:50","guid":{"rendered":"http:\/\/countingpips.com\/?p=114541"},"modified":"2018-06-01T15:55:39","modified_gmt":"2018-06-01T15:55:39","slug":"us-earnings-season-starts-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/us-earnings-season-starts-today\/","title":{"rendered":"US earnings season starts today"},"content":{"rendered":"
October 11, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow closes at new record high<\/h2>\n<\/div>\n<\/div>\n

US stocks<\/b>\u00a0resumed the rally on Tuesday on expectations of strong earnings season. The dollar weakening accelerated: 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 0.5% to 93.25. The\u00a0S&P 500\u00a0<\/em>added 0.2% settling at 2550.64 led by consumer staples stocks. Nine out of 11 main sectors finished higher.\u00a0Dow Jones<\/em>industrial average rose 0.3% closing at fresh all-time high 22830.68, led by 4.5% jump in Wal-Mart shares. The\u00a0Nasdaq\u00a0<\/a>composite index gained 0.1% to 6587.25.<\/p>\n

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Treasury yields inched lower ahead of earnings season which starts today with reports from BlackRock and Delta Air Lines. Investors expect a strong quarter of earnings following recent quarters of better than expected corporate results. Traders will be watching also the Federal Open Market Committee meeting minutes which will be released at 20:00 CET today. More hawkish than expected minutes may support the dollar. The Federal Reserve announced at last FOMC meeting it will start shrinking its $4.5 trillion balance sheet this month.<\/p>\n<\/div>\n<\/div>\n

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European stocks slip<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>closed marginally lower on Tuesday ahead of Catalonia President regional parliament speech. Both the\u00a0euro\u00a0<\/em>andBritish Pound\u00a0<\/em>extended gains against the dollar. The Stoxx Europe 600 slipped 0.01%. German\u00a0DAX 30\u00a0<\/a>fell 0.2% closing at 12949.25 despite positive exports data. France\u2019s\u00a0CAC 40<\/em>\u00a0closed less than 0.1% lower while UK\u2019s\u00a0FTSE 100\u00a0<\/em>rose 0.4% to 7538.27. Markets are trading higher after opening today.<\/p>\n

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Spanish stocks fell as investors were uncertain whether the Catalan president will declare independence or opt for negotiations with Madrid. At a closely watched address after markets closed Catalan president Puigdemont said he accepted the mandate of forming a Catalan republic but refrained from declaring outright independence in an effort to engage in mediation with Madrid. Euro accelerated the rise against the dollar which was supported also by ECB executive board member Lautenschlaeger hawkish comment Monday the central bank should start scaling back its massive bond buying program next year. In economic news German exports surged in August 7.2% from the same month in 2016 due to strong demand from the euro-zone, while French industrial production unexpectedly fell 0.3% on month in August.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are rising today following strong lead from Wall Street overnight.\u00a0Nikkei\u00a0<\/em>rose 0.3% to 20881.27 with yen little changed against the dollar. Chinese stocks are higher: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.3% higher and Hong Kong\u2019s\u00a0Hang Seng Index<\/em>is little changed. Australia\u2019s All Ordinaries Index gained 0.6% as Australian dollar pared earlier gains against the greenback.<\/p>\n

\"AU<\/p>\n

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Oil advances<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are extending gains today on signs of rising demand as global economic growth improves and OPEC output cut deal helps rebalance the supply glut. The International Monetary Fund forecasted global economic growth would accelerate to 3.7% in 2018 from 3.6% this year. The American Petroleum Institute industry group will report later today US crude stocks. Prices rose yesterday on lower US oil output as nearly 59% of US Gulf of Mexico oil production remained off line on Tuesday. December Brent crude rose 1.5% to $56.61 a barrel at ICE Futures exchange in London 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 Dow closes at new record high US stocks\u00a0resumed the rally on Tuesday on expectations of strong earnings season. The dollar weakening accelerated: 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 0.5% to 93.25. The\u00a0S&P 500\u00a0added 0.2% settling at […]<\/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-114541","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114541","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=114541"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114541\/revisions"}],"predecessor-version":[{"id":114547,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114541\/revisions\/114547"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}