{"id":118318,"date":"2017-12-18T06:59:21","date_gmt":"2017-12-18T11:59:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=118318"},"modified":"2018-06-01T15:48:22","modified_gmt":"2018-06-01T15:48:22","slug":"us-stocks-rally-on-tax-bill-passage-hopes","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/us-stocks-rally-on-tax-bill-passage-hopes\/","title":{"rendered":"US stocks rally on tax bill passage hopes"},"content":{"rendered":"
December 18, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow logs another record<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>ended at record highs on Friday as Republican lawmakers inched closer to tax bill passage after agreement to expand the child tax credit. The dollar strengthening continued as capacity utilization hit a 2.5-year high at 77.1% for November. 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 93.931.\u00a0S&P 500<\/a>\u00a0climbed 0.9% to record high 2675.81 led by technology and consumer staples shares. The US broad market index gained 0.9% for the week.\u00a0Dow Jones\u00a0<\/em>industrial average added 0.6% to fresh record 24651.74. The\u00a0Nasdaq\u00a0<\/em>composite jumped 1.2% to new record 6936.58. Futures indicate higher market openings.<\/p>\n

\"DJI\"<\/p>\n

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European stocks end week lower<\/h2>\n<\/div>\n<\/div>\n

European markets\u00a0<\/b>retreat continued on Friday led by retail and bank shares. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>ended lower against the dollar. The Stoxx Europe 600 index lost 0.2%, closing the week 0.3% lower. The\u00a0DAX 30\u00a0<\/em>however rose 0.3% to 13103.56. France\u2019s\u00a0CAC 40\u00a0<\/em>fell 0.2% while UK\u2019s\u00a0FTSE 100\u00a0<\/a>rose 0.6% to 7490.57 as European Union leaders determined Brexit talks may move on to the second phase that includes trade negotiations.<\/p>\n

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

Asian stock indices<\/b>\u00a0are rising today tracking Friday\u2019s advances on Wall Street.\u00a0Nikkei\u00a0<\/em>ended 0.6% higher at 24651.74 as yen resumed weakness against the dollar. Chinese stocks are higher as a three day Central Economic Work conference starts today where Communist Party leaders will discuss economic policy: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 0.1% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.9% higher. Australia\u2019s All Ordinaries Index is up 0.7% despite a rise in Australian dollar against the greenback.<\/p>\n

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Oil higher<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are higher today. Prices ended lower Friday on higher US domestic output concerns after Energy Information Administration Wednesday reported that total US crude production rose 73,000 barrels a day to 9.78 million barrels a day last week. February Brent fell 0.1% to $63.23 a barrel on Friday.<\/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 logs another record US stock indices\u00a0ended at record highs on Friday as Republican lawmakers inched closer to tax bill passage after agreement to expand the child tax credit. The dollar strengthening continued as capacity utilization hit a 2.5-year high at 77.1% for November. The\u00a0live dollar index\u00a0data show the ICE US Dollar index, […]<\/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-118318","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118318","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=118318"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118318\/revisions"}],"predecessor-version":[{"id":118331,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118318\/revisions\/118331"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=118318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=118318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=118318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}