{"id":114891,"date":"2017-10-17T07:45:31","date_gmt":"2017-10-17T11:45:31","guid":{"rendered":"http:\/\/countingpips.com\/?p=114891"},"modified":"2018-06-01T15:55:33","modified_gmt":"2018-06-01T15:55:33","slug":"us-stocks-rally-intact","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/us-stocks-rally-intact\/","title":{"rendered":"US stocks rally intact"},"content":{"rendered":"
October 17, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP 500, Dow and Nasdaq log records<\/h2>\n<\/div>\n<\/div>\n

US stock indices<\/b>\u00a0closed at record highs on Monday on expectations of positive earnings season. The dollar resumed strengthening: 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 0.2% to 93.251.\u00a0S&P 500\u00a0<\/em>closed 0.2% higher settling at record 2557.64 led by financial shares. The\u00a0Dow Jones\u00a0<\/a>industrial average rose 0.4% to 22956.96. The\u00a0Nasdaq\u00a0<\/em>composite index gained 0.3% to 6624.<\/p>\n

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Treasury yields rose after Fed chair Yellen on Sunday said \u201congoing strength of the economy would warrant gradual increases\u201d in short term interest rates. The dollar was also supported by President Trump\u2019s comment he expected that tax policy reforms would be completed by year end. Economic news also were positive: The Empire State manufacturing index jumped to a three-year high of 30.2 in October from 24.4 in September. A number above zero indicates improving economic conditions.<\/p>\n<\/div>\n<\/div>\n

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

European stocks\u00a0<\/b>ended little changed on Monday as Spain\u2019s central government gave Catalonia\u2019s separatist leaders until Thursday to back away from the independence push. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>fell against the dollar. The Stoxx Europe 600 index ended less than 0.1 points lower. The\u00a0DAX 30\u00a0<\/em>added 0.1% to 13003.70. France\u2019s\u00a0CAC 40\u00a0<\/em>rose 0.2%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>fell 0.1% to 7526.97.<\/p>\n

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Spanish stocks fell as uncertainty over Catalonia\u2019s independence push continued after Catalonia President Puigdemont didn\u2019t answer Spain\u2019s Prime Minister\u2019s demand last Wednesday he provide a clear answer whether the region declared independence. Puigdemont instead called for two months of talks to discuss Catalonia\u2019s break from Spain said in a letter to Rajoy. In a response letter Rajoy said he would set in motion a constitutional process toward removing Catalonia\u2019s autonomy if its leaders did not drop the push for independence. Spain\u2019s deputy prime minister Soraya Saenz de Santamaria gave Catalonia leader Puigdemont until 10 am local time Thursday to drop any plans to secede from Spain.<\/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.\u00a0Nikkei\u00a0<\/em>closed 0.4% higher at 21336.12 as yen extended losses against the dollar. Chinese stocks are mixed after data on Monday showed consumer inflation slowed while producer prices rose more than expected:\u00a0Shanghai Composite Index\u00a0<\/em>is 0.2% lower while Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is flat. Australia\u2019s All Ordinaries Index is up 0.7% supported by gains in miner stocks on higher commodity prices and a slide in Australian dollar against the greenback.<\/p>\n

\"NIKKEI<\/p>\n

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Oil higher on rising geopolitical tensions<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are inching higher today as uncertainty after Iraqi Kurdistan independence vote raises concerns about Iraq\u2019s crude oil exports. Prices rose Monday after Iraqi forces reportedly seized the city of Kirkuk and its surrounding oil fields from Kurdish forces Monday. The government said its troops had taken control of Iraq\u2019s North Oil Company, and the fields quickly resumed production. December Brent crude rose 1.1% settling at $57.82 a barrel on ICE Futures exchange in London on Monday.<\/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 SP 500, Dow and Nasdaq log records US stock indices\u00a0closed at record highs on Monday on expectations of positive earnings season. The dollar resumed strengthening: 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 0.2% to 93.251.\u00a0S&P 500\u00a0closed 0.2% […]<\/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-114891","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114891","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=114891"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114891\/revisions"}],"predecessor-version":[{"id":114906,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114891\/revisions\/114906"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}