{"id":115307,"date":"2017-10-24T07:10:42","date_gmt":"2017-10-24T11:10:42","guid":{"rendered":"http:\/\/countingpips.com\/?p=115307"},"modified":"2018-06-01T15:55:27","modified_gmt":"2018-06-01T15:55:27","slug":"us-stocks-slip","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/us-stocks-slip\/","title":{"rendered":"US stocks slip"},"content":{"rendered":"
October 24, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP 500 snaps six day winning streak<\/h2>\n<\/div>\n<\/div>\n

US stock indices<\/b>\u00a0retreated on Monday after closing at record highs on Friday. The dollar strengthening continued as investors waited for President Trump to announce his pick for the Federal Reserve chair: 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 93.837.S&P 500\u00a0<\/em>closed 0.4% lower settling at 2564.98 led by technology and industrial shares. The\u00a0Dow Jones\u00a0<\/a>industrial average lost 0.2% to 23273.96. The\u00a0Nasdaq\u00a0<\/em>composite index fell 0.6% to 6586.83.<\/p>\n

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Equities rally is supported by earnings beating expectations with over 20% of SP 500 companies having reported quarterly results so far. Nearly 200 companies will report earnings this week. President Trump said he was \u201cvery, very close\u201d to making his pick to head the Federal Reserve when chairwoman Janet Yellen\u2019s term ends in February. He had told he was thinking about naming Jerome Powell and John Taylor together. In economic news the Chicago Fed national activity index came in at 0.17 in September, up from a downwardly revised 0.37 in August.<\/p>\n<\/div>\n<\/div>\n

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European stocks advance despite Catalonia standoff<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>ended higher on Monday amid Catalonia standoff against Spain\u2019s central government. The\u00a0euro<\/em>continued the slide against the dollar while\u00a0British Pound\u00a0<\/em>extended gains. The Stoxx Europe 600 index ended 0.2% higher. The\u00a0DAX 30\u00a0<\/em>added 0.1% to 13003.14. France\u2019s\u00a0CAC 40\u00a0<\/em>rose 0.3%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>ended slightly higher at 7524.45.<\/p>\n

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Spanish stocks fell on rising political risks in Spain after Madrid announced plans to enact Article 155 of the federal constitution against Catalonia, suspend Catalonia autonomy and impose direct rule. Central government will take over until new regional elections can be held. Spain\u2019s main opposition party, the Socialists, said they would support a move by the ruling Popular Party to hold new elections in Catalonia. Catalonia leaders called for civil disobedience in response.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mostly higher today.\u00a0Nikkei\u00a0<\/em>closed 0.5% higher at 21805.17 as yen extended losses against the dollar after Prime Minister Abe\u2019s win raised the prospect for continued loose monetary policy. Chinese stocks are mixed:\u00a0Shanghai Composite Index\u00a0<\/em>is 0.2% higher while Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.6% lower. Australia\u2019s All Ordinaries Index is up 0.1% supported by gains in miner stocks on higher commodity prices and accelerated slide in Australian dollar against the greenback.<\/p>\n

\"NIKKEI\"<\/p>\n

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Oil edges lower<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are inching lower today. Prices fell Monday after switching between small gains and losses as traders watched developments in northern Iraq where fighting continued between government forces and Kurdish separatists over the weekend. December Brent crude fell 0.7% settling at $57.37 a barrel on ICE Futures exchange 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 snaps six day winning streak US stock indices\u00a0retreated on Monday after closing at record highs on Friday. The dollar strengthening continued as investors waited for President Trump to announce his pick for the Federal Reserve chair: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength […]<\/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-115307","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115307","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=115307"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115307\/revisions"}],"predecessor-version":[{"id":115317,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/115307\/revisions\/115317"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=115307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=115307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=115307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}