{"id":117631,"date":"2017-12-05T06:59:47","date_gmt":"2017-12-05T11:59:47","guid":{"rendered":"http:\/\/countingpips.com\/?p=117631"},"modified":"2018-06-01T15:48:29","modified_gmt":"2018-06-01T15:48:29","slug":"technology-shares-drag-us-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/technology-shares-drag-us-market\/","title":{"rendered":"Technology shares drag US market"},"content":{"rendered":"
December 5, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow closes at record while Nasdaq, SP 500 slip<\/h2>\n<\/div>\n<\/div>\n

US broad stock market\u00a0<\/b>slipped on Monday as technology stocks sold off. The dollar strengthened: 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 93.08.\u00a0S&P 500\u00a0<\/em>lost 0.1% settling at 2639.44. The\u00a0Dow Jones\u00a0<\/a>industrial average meanwhile rose 0.2% to record high 24290.05. The\u00a0Nasdaq\u00a0<\/em>composite index dropped 1.1% to 6775.37.<\/p>\n

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Treasury yields rose as Senate passed its tax overhaul bill early Saturday. The Senate version of the tax bill differs from the legislation passed by the House of Representatives and a final bill must then be approved by both the House and Senate before President Donald Trump can sign it into law. Economic news was negative: US factory orders fell 0.1% in October, less than expected, largely because of fewer orders for passenger planes and cars.<\/p>\n<\/div>\n<\/div>\n

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Bank stocks lead European markets rebound<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>further rebounded on Monday led by bank shares. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>fell against the dollar. The Stoxx Europe 600 index ended 0.9% higher. The\u00a0DAX 30\u00a0<\/em>jumped 1.5% to 13058.55. France\u2019s\u00a0CAC 40\u00a0<\/em>rose 1.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/a>finished 0.5% higher at 7338.97. Indices opened mixed today.<\/p>\n

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Investors optimism was boosted by the passage of the tax overhaul bill by the US Senate early Saturday. Pound ended marginally higher despite a selloff after UK Prime Minister Theresa May failed to reach a Brexit deal with European Commission President Jean-Claude Juncker on the Irish border, EU citizens\u2019 rights and the size of the UK\u2019s \u201cdivorce\u201d bill on Monday.<\/p>\n<\/div>\n<\/div>\n

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Technology stocks drag Asian markets<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are lower today dragged by technology stocks following their selloff on Wall Street overnight.Nikkei\u00a0<\/em>lost 0.4% to 22622.38 despite a weaker yen against the dollar. Chinese stocks are lower: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.2% lower and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is down 0.6%. Australia\u2019s All Ordinaries Index is 0.2% lower as Australian dollar rebounded against the US dollar after better than expected retail sales report for October. As expected, the Reserve Bank of Australia did not make a change in interest rates.<\/p>\n

\"HK50\"<\/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 as recent data showed US drillers added 2 more oil rigs last week. February Brent crude settled 2% lower at $62.45 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 Dow closes at record while Nasdaq, SP 500 slip US broad stock market\u00a0slipped on Monday as technology stocks sold off. The dollar strengthened: 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 93.08.\u00a0S&P 500\u00a0lost 0.1% settling at […]<\/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-117631","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117631","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=117631"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117631\/revisions"}],"predecessor-version":[{"id":117641,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117631\/revisions\/117641"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=117631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=117631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=117631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}