{"id":118523,"date":"2017-12-22T07:15:59","date_gmt":"2017-12-22T12:15:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=118523"},"modified":"2018-06-01T15:48:19","modified_gmt":"2018-06-01T15:48:19","slug":"us-equities-resume-advances","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/us-equities-resume-advances\/","title":{"rendered":"US equities resume advances"},"content":{"rendered":"
December 22, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stock indices rise despite GDP downgrade<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>ended higher on Thursday despite mixed data. The dollar weakened marginally: 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 0.05% lower at 93.29.\u00a0Dow Jones\u00a0<\/em>industrial average rose 0.2% to 24782.29. The\u00a0S&P 500\u00a0<\/em>added 0.2% to 2684.57 led by energy shares up 2.1%. The\u00a0Nasdaq\u00a0<\/a>composite edged up 0.1% to 6965.35.<\/p>\n

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Only President Donald Trump\u2019s signing is need for the tax bill to be enacted into law after Congress on Wednesday provided final approval of the tax overhaul. Mixed data were shrugged off: The US economy\u2019s pace of growth in the third quarter was lowered to a 3.2% annual rate from 3.3% in the final reading of gross domestic product. The economy expanded at a 3.1% rate in the second quarter. Initial jobless claims rose a higher than expected 20,000 last week, though they remain at historically low levels. On the positive note, the Philadelphia Fed\u2019s Manufacturing Business Outlook Survey jumped to a reading of 26.2 in December from 22.7.<\/p>\n<\/div>\n<\/div>\n

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European markets rebound<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>recovered on Thursday erasing earlier losses ahead of Catalonia\u2019s regional election results. Theeuro\u00a0<\/em>extended losses against the dollar while\u00a0British Pound\u00a0<\/em>edged higher. The Stoxx Europe 600 index rose 0.6%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>added 0.3% to 13109.74. France\u2019s\u00a0CAC 40\u00a0<\/em>climbed 0.6% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>rallied 1.1% to record 7603.98. Indices opened 0.2% – 0.3% lower today.<\/p>\n

\"GB100\"<\/p>\n

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Negative economic data undermined investors confidence: the Ifo business climate index, a leading indicator for economic activity in Europe\u2019s largest economy, dropped to 117.2 in December, down from 117.6 in November.<\/p>\n<\/div>\n<\/div>\n

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Asian markets higher ahead of holiday<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher in thin trading ahead of holidays.\u00a0Nikkei\u00a0<\/em>rose 0.2% to 22902.76 on continued yen weakness against the dollar. Chinese stocks are falling: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.1% lower while Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.6%. Australia\u2019s All Ordinaries Index is 0.2% higher despite Australian dollar rally against the greenback.<\/p>\n

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

Oil futures prices\u00a0<\/b>are edging higher today. Prices rose yesterday while the multinational chemicals group Ineos said it expects to complete repair work on Forties pipeline around Christmas. Brent for February settlement rose 0.5% to end the session at $64.90 a barrel on Thursday.<\/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 US stock indices rise despite GDP downgrade US stock market\u00a0ended higher on Thursday despite mixed data. The dollar weakened marginally: 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 0.05% lower at 93.29.\u00a0Dow Jones\u00a0industrial average rose 0.2% to 24782.29. […]<\/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-118523","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118523","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=118523"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118523\/revisions"}],"predecessor-version":[{"id":118531,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118523\/revisions\/118531"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=118523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=118523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=118523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}