{"id":114823,"date":"2017-10-16T06:55:16","date_gmt":"2017-10-16T10:55:16","guid":{"rendered":"http:\/\/countingpips.com\/?p=114823"},"modified":"2018-06-01T15:55:35","modified_gmt":"2018-06-01T15:55:35","slug":"us-stocks-rise-on-weak-inflation-report","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/us-stocks-rise-on-weak-inflation-report\/","title":{"rendered":"US stocks rise on weak inflation report"},"content":{"rendered":"
October 16, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq ends at record high<\/h2>\n<\/div>\n<\/div>\n

US stock indices<\/b>\u00a0closed higher on Friday on positive earnings reports. The dollar was little changed despite slowing core inflation in September: 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 down 0.01% to 93.08.\u00a0S&P 500<\/a>\u00a0rose 0.1% to 2553.17, led by technology and materials shares.\u00a0Dow Jones\u00a0<\/em>industrial average added 0.1% to 22871.72 supported by gains in American Express and McDonald\u2019s shares. The\u00a0Nasdaq\u00a0<\/em>composite index outperformed gaining 0.2 % to record high 6605.80.<\/p>\n

\"SP<\/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 advance<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>ended higher on Friday. The\u00a0euro\u00a0<\/em>continued slide against the dollar on reports the European Central Bank may continue asset purchases for at least nine months after it starts tapering in January. The\u00a0British Pound\u00a0<\/em>extended gains against the dollar. The Stoxx Europe 600 index ended the session up 0.2%. The\u00a0DAX 30\u00a0<\/em>rose 0.1% to 12991.87. France\u2019s\u00a0CAC 40\u00a0<\/em>slipped 0.2% and UK\u2019sFTSE 100\u00a0<\/a>lost 0.3% to 7535.44. Indices opened higher 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 hi 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 up on Chinese data<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher today on strong Chinese data. China\u2019s producer prices beat market expectations to rise 6.9% in September from a year earlier while consumer inflation slowed to 1.6% form 1.8% in August.\u00a0Nikkei\u00a0<\/em>rose 0.6% to 21284.40 despite a weaker dollar against the yen. The belief that Japan\u2019s ruling party bloc will win the general election later this month supported market sentiment. Chinese stocks are mixed: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0. 4% while Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.8% higher. Australia\u2019s All Ordinaries Index is up 0.6% supported by a weaker Australian dollar against the greenback.<\/p>\n

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Oil higher on Iraq export concerns<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>jumped today on output concerns over OPEC\u2019s second largest producer as Iraqi forced entered the oil city of Kirkuk, taking territory from Kurdish fighters. Prices rose Friday after President Donald Trump\u2019s refusal to certify Iran\u2019s compliance with the nuclear deal. December Brent ended 0.6% higher at $57.17 a barrel on Friday, gaining 2.8% for the week.<\/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 Nasdaq ends at record high US stock indices\u00a0closed higher on Friday on positive earnings reports. The dollar was little changed despite slowing core inflation in September: 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 down 0.01% to 93.08.\u00a0S&P […]<\/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-114823","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114823","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=114823"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114823\/revisions"}],"predecessor-version":[{"id":114834,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114823\/revisions\/114834"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}