{"id":117729,"date":"2017-12-07T07:10:32","date_gmt":"2017-12-07T12:10:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=117729"},"modified":"2018-06-01T15:48:27","modified_gmt":"2018-06-01T15:48:27","slug":"us-stocks-pause-as-employment-grows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/us-stocks-pause-as-employment-grows\/","title":{"rendered":"US stocks pause as employment grows"},"content":{"rendered":"
December 7, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq rebounds while SP 500 dips<\/h2>\n<\/div>\n<\/div>\n

US broad stock market\u00a0<\/b>edged lower on Wednesday despite a recovery in technology stocks. The dollar continued strengthening helped by Canadian dollar decline after more cautious than expected Bank of Canada statement. 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, gained 0.3% to 93.524. The\u00a0S&P 500<\/a>\u00a0slipped 0.3 points to 2629.27 as gains in technology shares were offset by losses in energy stocks. The\u00a0Dow Jones\u00a0<\/em>industrial average fell 0.2% to 24140.91.\u00a0Nasdaq\u00a0<\/em>composite index meanwhile rebounded 0.2% to 6776.38.<\/p>\n

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Negotiations to reconcile Senate and House tax bill differences are focused on corporate Alternative Minimum Tax (AMT) in Senate\u2019s bill. AMT is a provision which will make corporations pay a minimum tax of 20% if tax breaks make their tax bill too low. Economic data were positive showing solid employment growth in November: ADP\u2019s November report on private sector jobs showed 190 thousand increase in jobs, above expectations for a 180 thousand growth.<\/p>\n<\/div>\n<\/div>\n

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European markets slide second session<\/h2>\n<\/div>\n<\/div>\n

European markets\u00a0<\/b>weakness continued on Wednesday led by technology and mining shares. The\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>slide against the dollar persisted. The Stoxx Europe 600 closed 0.1% lower. Germany\u2019s\u00a0DAX 30\u00a0<\/em>fell 0.4% settling at 12998.85. France\u2019s\u00a0CAC 40\u00a0<\/a>slipped 0.02% while UK\u2019s\u00a0FTSE 100\u00a0<\/em>gained 0.3% to 7348.03. Indices opened mixed today.<\/p>\n

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Technology stocks selloff continued on concerns corporate Alternative Minimum Tax would hit technology companies harder than others. Pound dropped after UK Brexit Secretary David Davis said the government hadn\u2019t carried out any economic assessment on how Britain\u2019s exit from the European Union will impact different parts of the British economy.<\/p>\n<\/div>\n<\/div>\n

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Technology recovery supports Asian indices<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher as technology shares recovered following the selloff on Wall Street.\u00a0Nikkei\u00a0<\/em>rose 1.5% to 22498.03 as yen declined against the dollar. Chinese stocks are down: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.3% lower while Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.2% higher. Australia\u2019s All Ordinaries Index rebounded 0.5% as Australian dollar slid against the greenback after smaller than expected October trade surplus.<\/p>\n

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Oil down on US gasoline stock jump<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are edging lower today. Prices ended lower yesterday despite the US Energy Information Administration report of more than expected drop in domestic crude supplies of 5.6 million barrels., However gasoline and distillate stockpiles both rose more than anticipated. February Brent crude fell 2.6% to $61.22 a barrel on Wednesday.<\/p>\n

\"BRENT\"<\/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 Nasdaq rebounds while SP 500 dips US broad stock market\u00a0edged lower on Wednesday despite a recovery in technology stocks. The dollar continued strengthening helped by Canadian dollar decline after more cautious than expected Bank of Canada statement. The\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against […]<\/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-117729","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117729","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=117729"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117729\/revisions"}],"predecessor-version":[{"id":117740,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117729\/revisions\/117740"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=117729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=117729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=117729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}