{"id":119763,"date":"2018-01-18T06:55:24","date_gmt":"2018-01-18T11:55:24","guid":{"rendered":"http:\/\/countingpips.com\/?p=119763"},"modified":"2018-06-01T15:46:42","modified_gmt":"2018-06-01T15:46:42","slug":"dow-closes-above-26000","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/dow-closes-above-26000\/","title":{"rendered":"Dow closes above 26000"},"content":{"rendered":"
January 18, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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

US financial markets\u00a0<\/b>resumed the rally on Wednesday as the upbeat Beige Book and data boosted investors\u2019 risk appetite. The dollar rebounded: 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 0.5% to 90.994. The\u00a0S&P 500<\/a>\u00a0gained 0.9% to all-time high 2802.56. The\u00a0Dow Jones\u00a0<\/em>industrial jumped 1.3% closing at new record high 26115.65.\u00a0Nasdaq\u00a0<\/em>composite index rose 1% to fresh record 7298.28. Futures on indices point to higher opening today.<\/p>\n

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While the stock market rally has elevated equity valuations to historical high levels, market sentiment was boosted by the Fed report the Beige Book indicated the outlook for 2018 \u201cremains optimistic for a majority of contacts across the country.\u201d With fourth earnings season corporate reports positive so far the Federal Reserve report the US industrial production rose an above expected 0.9% in December also buoyed market sentiment. Investor are watching the progress in immigration deal negotiations between the White House and lawmakers. It is the latest hurdle in budget negotiations and a spending agreement is needed before Saturday to avoid a government shutdown.<\/p>\n<\/div>\n<\/div>\n

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European stocks pull back on weak data<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>pulled back on Wednesday on weak data and corporate reports. The\u00a0euro\u00a0<\/em>extended decline against the dollar while\u00a0British Pound\u00a0<\/em>resumed its climb. The Stoxx Europe 600 closed 0.1% lower. Germany\u2019s\u00a0DAX 30\u00a0<\/em>fell 0.5% settling at 13183.96. France\u2019s\u00a0CAC 40\u00a0<\/a>lost 0.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>slipped 0.4% to 7725.43. Markets opened 0.1%-0.4% higher today.<\/p>\n

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Weak data failed to boost investor optimism: the final reading on euro-zone inflation in December came in line with expectations at 1.4%. However new car sales in the European Union fell in December, with demand falling in all major EU markets except Spain.<\/p>\n<\/div>\n<\/div>\n

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China fourth quarter GDP grows 6.8%<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>ended 0.4% lower at 23763.37 with yen little changed against the dollar. Chinese stocks are up as China\u2019s economy grew 6.8% in the fourth quarter of 2017 from a year earlier, above expectations and unchanged from the previous quarter\u2019s growth: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.4% higher and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.9%. Australia\u2019s All Ordinaries Index lost 0.1% as Australian dollar resumed climb against the greenback on strong job growth though unemployment edged higher.<\/p>\n

\"NIKKEI\"<\/p>\n

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

Oil futures prices\u00a0<\/b>are lower today ahead of US official stocks report. Prices fell yesterday on expectations for a ninth straight weekly drop in US crude supplies and risks to production in Nigeria. The American Petroleum Institute reported late Wednesday US crude supplies fell 5.1 million barrels last week. March Brent crude rose 0.3% to $69.38 a barrel on Wednesday.<\/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 All three main US indices end at records US financial markets\u00a0resumed the rally on Wednesday as the upbeat Beige Book and data boosted investors\u2019 risk appetite. The dollar rebounded: 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, rose 0.5% […]<\/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-119763","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119763","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=119763"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119763\/revisions"}],"predecessor-version":[{"id":119769,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119763\/revisions\/119769"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=119763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=119763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=119763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}