{"id":121155,"date":"2018-02-09T06:43:25","date_gmt":"2018-02-09T11:43:25","guid":{"rendered":"http:\/\/countingpips.com\/?p=121155"},"modified":"2018-06-01T15:43:43","modified_gmt":"2018-06-01T15:43:43","slug":"us-stock-index-futures-rise","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/02\/us-stock-index-futures-rise\/","title":{"rendered":"US stock index futures rise"},"content":{"rendered":"
February 9, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow, SP 500 fall into correction territory<\/h2>\n<\/div>\n<\/div>\n

US financial markets\u00a0<\/b>retreat continued on Thursday as markets adjust to expectations of tighter monetary policy.\u00a0Dow Jones\u00a0<\/em>industrial average dropped 4.2% to 23860.46. The\u00a0S&P 500\u00a0<\/em>lost 3.8% to 2798.03 led by financial and technology shares. Both S&P 500 and DJI entered correction territory. The\u00a0Nasdaq\u00a0<\/a>composite fell 3.9% to 7296.05. The dollar weakening resumed: 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, inched 0.01% lower to 90.274. Index futures point to higher openings today.<\/p>\n

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Markets are still jittery after stronger than expected January jobs report was seen as strengthening the case for faster pace of interest rate hikes by Federal Reserve. Comments by Fed officials indicated central bank policy makers don\u2019t see the market volatility as a reason to change the current policy stance of gradual rate hikes. New York Fed President William Dudley said 3 rate hikes in 2018 still seems to be reasonable forecast. Kansas City Fed President Esther George said 3 rate hikes this year is \u2018reasonable baseline\u2019. Minneapolis Fed President Neel Kashkari, a known dove, said the Federal Reserve is \u201ca long way away\u201d from having top raise rates due to rising inflation on the back of higher labor costs. Political uncertainty as the budget deal failed to get approved by Senate didn\u2019t help boost investor confidence either. Federal government partially shut down for second time this year. Today the US Senate approved a budget deal, but it was too late to prevent a federal shutdown that was already underway.<\/p>\n

\"SP500\"<\/p>\n<\/div>\n<\/div>\n

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European indices resume pullback<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>resumed the pullback on Thursday as Wall Street turmoil resumed overnight and energy shares fell. The\u00a0euro\u00a0<\/em>weakness continued while the\u00a0British Pound\u2019s\u00a0<\/em>advanced against the dollar after the Bank of England hinted interest rates could rise as early as May. The Stoxx Europe 600 index fell 1.6%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>tumbled 2.6% to 12260.29. France\u2019s\u00a0CAC 40\u00a0<\/em>slumped 2% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>lost 1.5% to 7170.69. Indices opened mixed today.<\/p>\n

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Chinese stocks lead Asian equities plunge<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are all in red today as selloff resumed overnight.\u00a0Nikkei\u00a0<\/em>fell 2.3% to 21382.62 despite resumed yen weakening against the dollar. Chinese stocks are down sharply as China’s consumer inflation slowed in January to seven month low: the\u00a0Shanghai Composite Index\u00a0<\/em>is 4.05% lower and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is down 3.3%. Australia\u2019s All Ordinaries Index is down 0.9% as Australian dollar reversed more than half of previous session loss against the greenback.<\/p>\n

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Brent\u00a0<\/a>lower on supply concerns<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are extending losses today on higher global supply concerns. Prices fell yesterday as OPEC member Iran announced plans to increase production within the next four years by at least 700,000 barrels a day. Brent for April settlement fell 1.1% to end the session at $64.81 a barrel on Thursday.<\/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 Dow, SP 500 fall into correction territory US financial markets\u00a0retreat continued on Thursday as markets adjust to expectations of tighter monetary policy.\u00a0Dow Jones\u00a0industrial average dropped 4.2% to 23860.46. The\u00a0S&P 500\u00a0lost 3.8% to 2798.03 led by financial and technology shares. Both S&P 500 and DJI entered correction territory. The\u00a0Nasdaq\u00a0composite fell 3.9% to 7296.05. The […]<\/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-121155","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/121155","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=121155"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/121155\/revisions"}],"predecessor-version":[{"id":121159,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/121155\/revisions\/121159"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=121155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=121155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=121155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}