{"id":118961,"date":"2018-01-02T07:30:39","date_gmt":"2018-01-02T12:30:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=118961"},"modified":"2018-06-01T15:46:49","modified_gmt":"2018-06-01T15:46:49","slug":"sp-500-logs-best-gain-since-2013","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/sp-500-logs-best-gain-since-2013\/","title":{"rendered":"SP 500 logs best gain since 2013"},"content":{"rendered":"
January 2, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stock indices end 2017 higher<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>ended the week on down note on Friday. The dollar weakness accelerated: the\u00a0live dollar index<\/a>data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.4% to 92.29.\u00a0S&P 500\u00a0<\/em>fell 0.5% settling at 2673.61 led by telecom shares down 0.9%. Ten of the 11 main sectors finished lower. However US broad stock market ended 19.4% higher for the year. The\u00a0Dow Jones\u00a0<\/a>industrial average lost 0.5% to 24719. The\u00a0Nasdaq\u00a0<\/em>composite index lost 0.7% to 6903.39.<\/p>\n

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Trading was thin on Friday with many investors away until after the New Year holiday. While S&P 500 posted best gain since 2013 the ICE US Dollar index fell 9.8%, the first annual loss since 2012. Investors expect President Trump will focus on a $1 trillion infrastructure spending bill now after Republicans passed the overhaul of the US tax code. Increased infrastructure spending should deliver another boost to the stock market after the stimulus of tax cuts with corporate tax rate lowered to 21% from 35%.<\/p>\n<\/div>\n<\/div>\n

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European stocks record gains for 2017<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>closed lower on Friday as they ended the year higher. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>closed higher against the dollar. The Stoxx Europe 600 index slipped 0.4% while recording 7.7% gain for the year, the biggest annual jump since 2013. The\u00a0DAX 30\u00a0<\/em>fell 0.5% to 12917.64. France\u2019s\u00a0CAC 40\u00a0<\/em>lost 0.5% while UK\u2019s\u00a0FTSE 100\u00a0<\/a>finished 0.9% higher at new record high 7656.34. Indices opened mixed today.<\/p>\n

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Chinese manufacturing expands in December<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today in the first trading session of 2018. Markets in Japan are closed for a 4-day bank holiday. Chinese stocks are rising on upbeat manufacturing data: Caixin index of Chinese industry rose to a four-month high of 51.5 in December from 50.8 in November. The\u00a0Shanghai Composite Index\u00a0<\/em>is 1.3% higher and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is up 2%. Australia\u2019s All Ordinaries Index is 0.1% lower as Australian dollar jumped 0.5% higher against the US dollar.<\/p>\n

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

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Oil higher on tighter supplies<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are extending gains today as the four-day unrest in Iran raised prospect of further tightening of global supply of crude on back of ongoing crude output cuts by OPEC and Russia. March Brent crude settled 1.1% higher at $66.87 a barrel on Friday.<\/p>\n

\nMarket 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 end 2017 higher US stock market\u00a0ended the week on down note on Friday. The dollar weakness accelerated: the\u00a0live dollar indexdata show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.4% to 92.29.\u00a0S&P 500\u00a0fell 0.5% settling at 2673.61 led by […]<\/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-118961","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118961","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=118961"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118961\/revisions"}],"predecessor-version":[{"id":118970,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118961\/revisions\/118970"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=118961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=118961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=118961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}