{"id":119442,"date":"2018-01-12T06:45:28","date_gmt":"2018-01-12T11:45:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=119442"},"modified":"2018-06-01T15:46:45","modified_gmt":"2018-06-01T15:46:45","slug":"us-stocks-rise-driven-by-energy-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/us-stocks-rise-driven-by-energy-rally\/","title":{"rendered":"US stocks rise driven by energy rally"},"content":{"rendered":"
January 12, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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All three US indices end at records<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>resumed the rally on Thursday ahead of the start of fourth quarter earnings. The dollar weakening accelerated: 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, lost 0.5% to 91.852.\u00a0Dow Jones\u00a0<\/em>industrial average rose 0.8% to record close 25574.73. The\u00a0S&P 500\u00a0<\/em>gained 0.7% to new record 2767.56 led by energy shares up 2%. The\u00a0Nasdaq\u00a0<\/a>composite advanced 0.8% to all-time high 7211.78. Futures point to higher market openings today.<\/p>\n

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China\u2019s State Administration of Foreign Exchange\u2019s statement the news that China considers reducing or stopping purchases of US Treasurys may be fake news eased concerns Treasury yields may continue rising if Chinese purchases of US debt fall. Anticipations of improving corporate earnings as fourth quarter earnings start today also buoyed risk appetite. JP Morgan and Wells Fargo are scheduled to report today. Markets shrugged off weaker than expected data: initial weekly jobless claims rose 11,000 to 261,000, above the 245,000 forecast. Meanwhile, US producer-price index fell 0.1% in December though the core PPI, excluding food and energy, rose 0.1%.<\/p>\n<\/div>\n<\/div>\n

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Retailers lead European stocks slide<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>extended losses on Thursday led by retailer shares. The\u00a0British Pound\u00a0<\/em>joined the\u00a0euro\u2019s<\/em>advance against the dollar. The Stoxx Europe 600 index fell 0.3%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>dropped 0.6% to 13202.90. France\u2019s\u00a0CAC 40\u00a0<\/em>declined 0.3% while UK\u2019s\u00a0FTSE 100\u00a0<\/em>gained 0.2% to all-time closing high 7762.94. Indices opened 0.1%-0.3% higher today.<\/p>\n

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Euro jumped after minutes from the ECB\u2019s December meeting showed policy makers considered a possible shift in policy guidance to reflect strengthening growth in the euro-zone if the economy continues to expand and inflation keeps rising toward the bank\u2019s target around 2%. Economic news were positive: euro-zone industrial production jumped 1% in November, compared with expectations for a rise of 0.8%. And Germany\u2019s economy grew by 2.2% in 2017, according to a preliminary estimate, though slightly higher growth of 2.3% was expected.<\/p>\n<\/div>\n<\/div>\n

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Asian stocks rise<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher tracking Wall Street moves overnight.\u00a0Nikkei\u00a0<\/em>lost 0.2% to 23653.82 while yen resumed weakening against the dollar. Chinese stocks are rising despite news China\u2019s exports and imports growth slowed in December after surging in the previous month: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.7% higher and Hong Kong\u2019sHang Seng Index\u00a0<\/em>is up 0.1%. Australia\u2019s All Ordinaries Index is little changed as Australian dollar fell against the greenback.<\/p>\n

\"AU200\"<\/p>\n

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Oil slips on lower China imports<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are edging lower today on weak China December oil import data. Prices rose yesterday supported by US inventory drop and domestic crude output decline by 290,000 barrels to 9.492 million barrels a day. Brent for March settlement rose 0.1% to end the session at $69.26 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 All three US indices end at records US stock indices\u00a0resumed the rally on Thursday ahead of the start of fourth quarter earnings. The dollar weakening accelerated: 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, lost 0.5% to 91.852.\u00a0Dow Jones\u00a0industrial […]<\/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-119442","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119442","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=119442"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119442\/revisions"}],"predecessor-version":[{"id":119450,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119442\/revisions\/119450"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=119442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=119442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=119442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}