{"id":116837,"date":"2017-11-21T06:58:02","date_gmt":"2017-11-21T11:58:02","guid":{"rendered":"http:\/\/countingpips.com\/?p=116837"},"modified":"2018-06-01T15:49:09","modified_gmt":"2018-06-01T15:49:09","slug":"us-markets-rebound-on-tax-reform-hopes","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/us-markets-rebound-on-tax-reform-hopes\/","title":{"rendered":"US markets rebound on tax reform hopes"},"content":{"rendered":"
November 21, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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All three main indices advance<\/h2>\n<\/div>\n<\/div>\n

US major stock indices<\/b>\u00a0ended higher on Monday supported by positive earnings results and tax cuts hopes. The dollar strengthened as euro slid on German coalition talks collapse: 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 0.4% to 94.046.\u00a0S&P 500\u00a0<\/em>closed 0.1% higher settling at 2582.14 led by telecom and technology shares. The\u00a0Dow Jones\u00a0<\/a>industrial average rose 0.3% to 23430.33. The\u00a0Nasdaq\u00a0<\/em>composite index added 0.1% to 6790.71.<\/p>\n

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Chances for tax bill\u2019s Senate approval improved after the White House said it would support removing Obamacare repeal provision from the bill if necessary for passage. Earlier Susan Collins, the Republican Senator from Maine, had voiced her doubts about the measure and with the Demaocrats expected to vote against the tax plan Republicans need every vote as they have only a slim majority in the Senate. The economic data were positive: the Index of Leading Economic Indicators rose 1.2% signaling continued strong US growth.<\/p>\n<\/div>\n<\/div>\n

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European markets rise despite German coalition talks collapse<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>rebounded on Monday in choppy trade erasing earlier losses after German coalition talks collapsed Sunday. The\u00a0euro\u00a0<\/em>fell against the dollar while\u00a0British Pound\u00a0<\/em>extended gains. The Stoxx Europe 600 index ended 0.7% higher. The\u00a0DAX 30\u00a0<\/em>rose 0.5% to 13058.66. France\u2019s\u00a0CAC 40\u00a0<\/em>gained 0.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/a>added 0.1% to 7389.46. Indices opened lower today.<\/p>\n

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Higher political uncertainty weighed on euro as coalition negotiations between Merkel\u2019s center-right Christian Democrats and Bavarian Christian Social Union, the pro-business Free Democrats and the Green Party collapsed late Sunday as the FDP walked out on talks. German President Frank Walter Steinmeier urged the parties to return to the negotiating table and cooperate to avoid new elections. Merkel said she preferred new elections over a minority government.<\/p>\n<\/div>\n<\/div>\n

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Technology stocks lead Asian indices higher<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are rising today led by technology shares after an upbeat Wall Street session overnight.\u00a0Nikkei<\/em>closed 0.7% higher at 22425.00 helped by a weaker yen against the dollar. Chinese stocks are rising led by messaging and gaming giant Tencent, up 1.8%: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.6% higher and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is up 1.3%. Australia\u2019s All Ordinaries Index is 0.3% higher as Australian dollar hit a five-month low against the US dollar after central bank meeting minutes.<\/p>\n

\"HK50\"<\/p>\n

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

Oil futures prices\u00a0<\/b>are inching higher today. Prices fell Monday as traders were in wait and see mode ahead of the OPEC November 30 meeting. January Brent crude lost 0.8% settling at $56.42 a barrel 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 All three main indices advance US major stock indices\u00a0ended higher on Monday supported by positive earnings results and tax cuts hopes. The dollar strengthened as euro slid on German coalition talks collapse: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival […]<\/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-116837","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116837","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=116837"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116837\/revisions"}],"predecessor-version":[{"id":116851,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116837\/revisions\/116851"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=116837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=116837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=116837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}