{"id":118374,"date":"2017-12-19T07:45:00","date_gmt":"2017-12-19T12:45:00","guid":{"rendered":"http:\/\/countingpips.com\/?p=118374"},"modified":"2018-06-01T15:48:21","modified_gmt":"2018-06-01T15:48:21","slug":"materials-shares-lead-us-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/materials-shares-lead-us-rally\/","title":{"rendered":"Materials shares lead US rally"},"content":{"rendered":"
December 19, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stock indices end at new records<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>continued the rally on Monday on increased optimism the Republican tax bill will get approved before Christmas. The dollar weakened: 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, fell 0.2% to 93.931.\u00a0S&P 500\u00a0<\/em>rose 0.5% settling at fresh record 2690.16 led by materials shares up 1.5%. The\u00a0Dow Jones\u00a0<\/a>industrial average gained 0.6% to new record 24792.203. TheNasdaq\u00a0<\/em>composite index jumped 0.8% to 6994.76.<\/p>\n

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Confidence Republicans would get votes necessary for the tax bill passage grew as Republican senators Marco Rubio and Bob Corker agreed to support the tax overhaul after the child tax credit was expanded. The bill will lower the corporate tax rate to 21% from 35%, boosting corporate earnings and equity prices. Economic news was positive: the National Association of Home Builders\u2019 monthly sentiment index surged five points to 74 in December, its highest reading since 1999.<\/p>\n<\/div>\n<\/div>\n

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

European markets\u00a0<\/b>rebounded on Monday on US tax bill passage hopes. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>inched higher against the dollar. The Stoxx Europe 600 index rallied 1.2% led by bank shares. The\u00a0DAX 30\u00a0<\/em>jumped 1.6% to 13312.30. France\u2019s\u00a0CAC 40\u00a0<\/em>gained 1.3% and UK\u2019s\u00a0FTSE 100\u00a0<\/a>finished 0.6% higher at 7537.01.<\/p>\n

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Inflation report held no surprises with euro-zone inflation for November confirmed at 1.5%, in line with the flash estimate.<\/p>\n<\/div>\n<\/div>\n

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World Bank upgrades China\u2019s 2017 growth forecast<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher today as investors eye US lawmakers progress on tax bill passage.\u00a0Nikkei\u00a0<\/em>fell 0.2% to 22868.00 as yen extended gains against the dollar. Chinese stocks are rising as World Bank raised its forecast for China\u2019s economic growth in 2017 to 6.8% from 6.7% it projected in October: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.6% higher and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is up 0.8%. Australia\u2019s All Ordinaries Index is 0.5% higher despite extended Australian dollar gains against the US dollar.<\/p>\n

\"HK50\"<\/p>\n

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Oil higher on UK pipeline outage<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are extending gains today on ongoing Forties pipeline outage in North Sea. The pipeline carries 40% of Britain\u2019s North Sea crude oil. February Brent crude settled 0.3% higher at $63.41 a barrel on Monday.<\/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 stock indices end at new records US stock indices\u00a0continued the rally on Monday on increased optimism the Republican tax bill will get approved before Christmas. The dollar weakened: 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, fell 0.2% […]<\/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-118374","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118374","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=118374"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118374\/revisions"}],"predecessor-version":[{"id":118386,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118374\/revisions\/118386"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=118374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=118374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=118374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}