{"id":118011,"date":"2017-12-12T07:31:16","date_gmt":"2017-12-12T12:31:16","guid":{"rendered":"http:\/\/countingpips.com\/?p=118011"},"modified":"2018-06-01T15:48:24","modified_gmt":"2018-06-01T15:48:24","slug":"telecom-shares-lead-us-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/telecom-shares-lead-us-rally\/","title":{"rendered":"Telecom shares lead US rally"},"content":{"rendered":"
December 12, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow, SP 500 end at new records<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>continued the rally on Monday led by telecommunications and technology shares. The dollar ended marginally higher: 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, ended little changed at 93.918.\u00a0S&P 500\u00a0<\/em>rose 0.3% settling at fresh record 2659.99 led by telecom shares up 1.2%. The\u00a0Dow Jones\u00a0<\/a>industrial average added 0.2% to new record 24386.03. The\u00a0Nasdaq<\/em>composite index gained 0.5% to 6875.08.<\/p>\n

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Treasury yields rose ahead of Federal Reserve meeting starting today that is likely to result in the third 0.25 percentage point interest rate increase of 2017. Markets shrugged off news of a terrorist attack in the New York City. Economic news was negative: the Job Openings and Labor Turnover Survey showed job vacancies in October fell to 5.99 million from 6.18 million.<\/p>\n<\/div>\n<\/div>\n

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

European stock indices\u00a0<\/b>slipped on Monday as losses in technology sector outweighed gains in bank shares. Theeuro\u00a0<\/em>inched higher against the dollar while\u00a0British Pound\u00a0<\/em>decline continued. The Stoxx Europe 600 index ended less than 0.1% lower. The\u00a0DAX 30\u00a0<\/em>lost 0.2% to 13123.65. France\u2019s\u00a0CAC 40\u00a0<\/em>ended 0.2% lower while UK\u2019s\u00a0FTSE 100\u00a0<\/a>finished 0.8% higher at 7453.48. Indices opened 0.1%-0.2% higher today.<\/p>\n

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Bank stocks advanced ahead of expected Federal Reserve rate hike. Basel III announcement also helped bank shares by highlighting banking rules which were less restrictive than initially thought and noted most lenders hold a sufficient amount of capital.<\/p>\n<\/div>\n<\/div>\n

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Asian markets retreat<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly lower today.\u00a0Nikkei\u00a0<\/em>fell 0.2% to 22889.00 as yen resumed strengthening against the dollar. Chinese stocks are down: the\u00a0Shanghai Composite Index\u00a0<\/em>is 1.2% lower and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is down 0.6%. Australia\u2019s All Ordinaries Index is 0.3% higher despite extended Australian dollar gains against the US dollar.<\/p>\n

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

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Oil climbs on UK pipeline shutdown<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are extending gains today after jumping Monday following shut down of UK\u2019s Forties pipeline following the discovery of a crack in the pipeline. The pipeline carries 40% of Britain\u2019s North Sea crude oil. February Brent crude settled 2% higher at $64.69 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, SP 500 end at new records US stock indices\u00a0continued the rally on Monday led by telecommunications and technology shares. The dollar ended marginally higher: 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, ended little changed at 93.918.\u00a0S&P 500\u00a0rose […]<\/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-118011","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118011","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=118011"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118011\/revisions"}],"predecessor-version":[{"id":118022,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118011\/revisions\/118022"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=118011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=118011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=118011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}