{"id":114654,"date":"2017-10-13T07:30:58","date_gmt":"2017-10-13T11:30:58","guid":{"rendered":"http:\/\/countingpips.com\/?p=114654"},"modified":"2018-06-01T15:55:36","modified_gmt":"2018-06-01T15:55:36","slug":"us-equities-slip-after-major-banks-results","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/us-equities-slip-after-major-banks-results\/","title":{"rendered":"US equities slip after major banks results"},"content":{"rendered":"
October 13, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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All three main US stock indexes edge lower<\/h2>\n<\/div>\n<\/div>\n

US stocks<\/b>\u00a0closed marginally lower on Thursday as investors digested major banking companies\u2019 corporate reports. The dollar recovered: 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 0.1% to 93.087.\u00a0Dow Jones\u00a0<\/em>industrial average slipped 0.1% to 22841.01. The\u00a0S&P 500\u00a0<\/em>lost 0.2% settling at 2550.93 led by financial shares down 0.8%. The\u00a0Nasdaq\u00a0<\/a>index fell 0.2% closing at 6591.51.<\/p>\n

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The first reports from banks were generally better than expected and investors expect a strong season of third quarter corporate results. In economic news wholesale prices rose 0.4% in September contributing to an annual growth rate of 2.6%, the fastest pace since 2012. Initial jobless claims fell 15 thousand to 243 thousand, lowest level in six weeks. Fed Governor Jerome Powell said emerging markets should be able to withstand higher US rates which could strengthen the dollar.<\/p>\n<\/div>\n<\/div>\n

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European stocks rise as Catalonia secession concerns abate<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>edged higher on Thursday as investors speculated on further Spanish developments after Catalonia president Puigdemont suspended the independence process on Tuesday. The\u00a0euro\u00a0<\/em>slipped against the dollar while\u00a0British Pound\u00a0<\/em>extended gains. The Stoxx Europe 600 closed less than 0.1% higher. Germany\u2019s\u00a0DAX 30\u00a0<\/a>rose 0.1% to 12982.89. France\u2019s\u00a0CAC 40<\/em>\u00a0lost less than 0.1% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>gained 0.3% to 7556.24. Indices opened mixed today.<\/p>\n

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Spanish stocks reversed some of previous session gains as concerns about Catalonia independence declaration subsided. Spain\u2019s Prime Minister Mariano Rajoy\u2019s demand on Wednesday that Catalonia President clarify whether he declared independence in his speech before parliament was interpreted as a signal by Rajoy he intends to suspend Catalonia\u2019s autonomy. In economic news euro-zone\u2019s industrial production was better than expected in August, rising 1.4% on month after 0.3% gain in July.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are higher today on strong global growth outlook after better than expected Chinese trade data.\u00a0Nikkei\u00a0<\/em>ended 1% higher at 21-year high 21155.18 posting 2.2% gain over week despite yen\u2019s continued climb against the dollar. Chinese stocks are rising as external trade data showed both growth in exports and imports accelerated in September: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.2% higher while Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is flat. Australia\u2019s All Ordinaries Index is up 0.4% as the Australian dollar extended winning streak against the greenback.<\/p>\n

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Oil climbs on lower US crude inventory<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are rising today on falling US crude production and inventories. US crude inventories dropped 2.7 million barrels last week to 462.22 million barrels, according to the Energy Information Administration. Prices fell yesterday after the International Energy Agency reported a monthly rise in global crude supplies. Brent for December settlement lost 1.2% to end the session at $56.25 a barrel on ICE Futures Europe on Thursday.<\/p>\n

\"BRENT<\/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 All three main US stock indexes edge lower US stocks\u00a0closed marginally lower on Thursday as investors digested major banking companies\u2019 corporate reports. The dollar recovered: 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 0.1% to 93.087.\u00a0Dow Jones\u00a0industrial average […]<\/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-114654","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114654","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=114654"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114654\/revisions"}],"predecessor-version":[{"id":114666,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114654\/revisions\/114666"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}