{"id":116943,"date":"2017-11-22T07:15:34","date_gmt":"2017-11-22T12:15:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=116943"},"modified":"2018-06-01T15:49:08","modified_gmt":"2018-06-01T15:49:08","slug":"strong-earnings-support-us-stocks-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/strong-earnings-support-us-stocks-rally\/","title":{"rendered":"Strong earnings support US stocks rally"},"content":{"rendered":"
November 22, 2017<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

\n
\n

All three main indices log fresh records<\/h2>\n<\/div>\n<\/div>\n

US major stock indices<\/b>\u00a0ended at record highs on Tuesday on positive corporate reports. The dollar weakened: 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, fell 0.1% to 93.98. The\u00a0S&P 500\u00a0<\/em>rose 0.7% to record 2599.03 led by technology stocks.\u00a0Dow Jones\u00a0<\/em>industrial average climbed 0.7% to all time high 23590.83 supported by 1.9% gain in Apple. The\u00a0Nasdaq\u00a0<\/a>composite index jumped 1.1% to fresh record high 6862.48.<\/p>\n

\n
\n

Positive economic data were additional contributor to improving risk appetite ahead of Thanksgiving holiday: existing home sales jumped 2% to an annual pace of 5.48 million in October, from 5.37 million the previous month. The Chicago Fed\u2019s National Activity Index rose to 0.65 in October, from 0.36 in September. Today at 20:00 CET Federal Reserve November meeting minutes will be released. They are widely expected to indicate the central bank is poised to raise short term interest rate to a range of 1.25% to 1.5% at December 12-13 meeting.<\/p>\n<\/div>\n<\/div>\n

\n
\n

European markets rise as Germany concerns subside<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>added to gains on Tuesday on easing political uncertainty concerns spurred by collapse of German coalition government talks. The\u00a0euro\u00a0<\/em>ended little changed while\u00a0British Pound\u00a0<\/em>continued advancing. The Stoxx Europe 600 rose 0.4%. German\u00a0DAX 30\u00a0<\/a>jumped 0.8% closing at 13167.54. France\u2019s\u00a0CAC 40<\/em>\u00a0closed 0.5% higher and UK\u2019s\u00a0FTSE 100\u00a0<\/em>added 0.3% to 7411.34. Markets opened mixed today.<\/p>\n

\n
\n

Chancellor Angela Merkel said she would prefer a new election to minority government after the failure of talks to form a three-party coalition. Continued rally of German auto maker Volkswagen shares boosted German DAX: Volkswagen rose 3% after 4.2% jump Monday following its upgrade of midterm sales and profit. In economic news the UK government debt increased by \u00a3500 million to \u00a38 billion in October, with the government borrowing more than it did a year ago.<\/p>\n<\/div>\n<\/div>\n

\n
\n

Hang Seng leads Asian indices higher<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are rising today as strong global growth buoys investor confidence.\u00a0Nikkei\u00a0<\/em>rose 0.6% to 22549.00 despite accelerated yen strengthening against the dollar. Chinese stocks are advancing: the\u00a0Shanghai Composite Index<\/em>is up 0.6% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.8% higher. Australia\u2019s All Ordinaries Index added 0.4% with Australian dollar little changed against the greenback.<\/p>\n

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

\n
\n

Oil higherer on expected US crude draw<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are rising today after TransCanada corporation said it will cut crude pipeline deliveries from Alberta\u2019s oil sands to US by at least 85% through to the end of November. Prices rose yesterday supported by the American Petroleum Institute industry group report US crude stocks fell by 6.4 million barrels last week. January Brent rose 0.6% to $62.57 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

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 log fresh records US major stock indices\u00a0ended at record highs on Tuesday on positive corporate reports. The dollar weakened: 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, fell 0.1% to 93.98. The\u00a0S&P 500\u00a0rose 0.7% to […]<\/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-116943","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116943","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=116943"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116943\/revisions"}],"predecessor-version":[{"id":116958,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116943\/revisions\/116958"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=116943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=116943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=116943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}