{"id":117683,"date":"2017-12-06T06:59:51","date_gmt":"2017-12-06T11:59:51","guid":{"rendered":"http:\/\/countingpips.com\/?p=117683"},"modified":"2018-06-01T15:48:28","modified_gmt":"2018-06-01T15:48:28","slug":"us-stocks-fall-on-soft-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/us-stocks-fall-on-soft-data\/","title":{"rendered":"US stocks fall on soft data"},"content":{"rendered":"
December 6, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US three main indices decline<\/h2>\n<\/div>\n<\/div>\n

US broad stock market\u00a0<\/b>ended lower on Tuesday with soft data failing to boost investors\u2019 risk appetite. The dollar strengthened nevertheless: 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. The\u00a0S&P 500\u00a0<\/em>lost 0.4% to 2629.57 with only the technology sector out of 11 main sectors ending higher.\u00a0Dow Jones\u00a0<\/em>industrial average fell 0.5% to 24180.64 led by Disney down 2.7%. The\u00a0Nasdaq\u00a0<\/a>composite index slipped 0.2% to 6762.21.<\/p>\n

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The US trade deficit jumped 8.6% in October to a ninth-month high $48.7 billion. And the Institute for Supply Management\u2019s index of service industry companies fell to 57.4 in November from a 12-year high 60.1 in October. The ISM report showed services sector expansion slowed in November as a reading over 50 indicates expansion. Rising trade deficit and slowing of services sector expansion point to moderating growth prospect for the fourth quarter GDP compared with the previous quarter. The Senate Banking Committee on Tuesday backed the nomination of Jerome Powell as the Federal Reserve Chairman, and the nomination now is expected to be confirmed by the Senate in coming weeks.<\/p>\n<\/div>\n<\/div>\n

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

European stock indices\u00a0<\/b>pulled back on Tuesday led by technology stocks. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>extended losses against the dollar. The Stoxx Europe 600 fell 0.2%. German\u00a0DAX 30\u00a0<\/a>slipped 0.1% to 13048.54. France\u2019s\u00a0CAC 40<\/em>ended 0.3% lower and UK\u2019s\u00a0FTSE 100\u00a0<\/em>lost 0.2% to 7327.50. Markets opened 0.5%-1.2% lower today.<\/p>\n

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Technology stocks fell after Monday selloff on Wall Street. UK Prime Minister Theresa May is expected to return to Brussels to continue negotiations with European Union officials after failing to reach an agreement on Brexit issues with European Commission President Jean-Claude Juncker.<\/p>\n<\/div>\n<\/div>\n

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Low commodity prices weigh on Asian stocks<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are falling today dragged by lower commodity prices.\u00a0Nikkei\u00a0<\/em>fell 2% to 22177.04 on stronger yen against the dollar. Chinese stocks continue the retreat: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 1% and Hong Kong\u2019sHang Seng Index\u00a0<\/em>is 2% lower. Australia\u2019s All Ordinaries Index lost 0.5% with Australian dollar hitting the lowest level of the week against the greenback following lower than expected Q3 GDP report.<\/p>\n

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

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

Oil futures prices\u00a0<\/b>are extending gains today. Prices rose yesterday supported by the American Petroleum Institute industry group report US crude stocks fell by 5.5 million barrels last week to 451.8 million while gasoline stocks rose 9.2 million barrels. February Brent rose 0.7% to $62.86 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

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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 US three main indices decline US broad stock market\u00a0ended lower on Tuesday with soft data failing to boost investors\u2019 risk appetite. The dollar strengthened nevertheless: 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. The\u00a0S&P 500\u00a0lost […]<\/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-117683","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117683","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=117683"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117683\/revisions"}],"predecessor-version":[{"id":117696,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117683\/revisions\/117696"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=117683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=117683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=117683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}