{"id":122314,"date":"2018-02-27T06:55:05","date_gmt":"2018-02-27T11:55:05","guid":{"rendered":"http:\/\/countingpips.com\/?p=122314"},"modified":"2018-06-01T15:42:18","modified_gmt":"2018-06-01T15:42:18","slug":"us-stocks-post-third-gain-in-a-row","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/02\/us-stocks-post-third-gain-in-a-row\/","title":{"rendered":"US stocks post third gain in a row"},"content":{"rendered":"
February 27, 2018<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

\n
\n

Technology shares lead US broad stock market<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>extended gains led by technology shares. The\u00a0S&P 500\u00a0<\/em>rose 1.2% to 2779.60 with ten of 11 main sectors closing higher. The\u00a0Dow Jones\u00a0<\/a>industrial average added 1.6% to 25709.27. The\u00a0Nasdaq\u00a0<\/em>composite index rose 1.2% to 7421.46. Dow and S&P 500 rose for a third straight session. The dollar weakened: 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 down 0.1% to 89.85. Futures indicate mixed market openings today.<\/p>\n

\n
\n

The recent stock market rout was caused by concerns the central bank may turn more aggressive in raising interest rates after January jobs report showed a rise in wages. Treasury yields rose after that as investors adjusted their inflation and interest rate expectations. On Monday, St. Louis Fed President James Bullard, who is not a voting member of the Fed\u2019s policy committee this year, said he was skeptical that bond yields would break higher from here. The main event today is Fed Chairman Powell\u2019s testimony before the House Financial Services Committee, which will be watched closely for indications if the Fed is planning four interest rate hikes for 2018 instead of three. In economic news, the Chicago Fed national activity index came in at 0.12 in January, compared with 0.14 in the previous month. And new home sales decline accelerated to 7.8% over month in January when an increase was expected.<\/p>\n<\/div>\n<\/div>\n

\n
\n

European stocks advance second straight session<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>rose for second straight session on Monday as European Central Bank President Mario Draghi said the euro-zone\u2019s economy still needs stimulus. The\u00a0British Pound\u00a0<\/em>turned lower against the dollar while the\u00a0euro\u00a0<\/em>turned higher. The Stoxx Europe 600 index rose 0.5%. The\u00a0DAX 30\u00a0<\/em>added 0.4% to 12527.04. France\u2019s\u00a0CAC 40\u00a0<\/em>closed 0.4% higher and UK\u2019s\u00a0FTSE 100\u00a0<\/a>climbed 0.6% to 7289.58. Indices opened 0.2%-0.5% higher today.<\/p>\n

\n
\n

Gains were led by mining shares as metals prices rose on the back of weaker dollar. In UK Jeremy Corbyn, the head of the opposition Labor Party, said that his party supports Britain creating a deal with the European Union that would give the UK full access to the EU\u2019s single market.<\/p>\n<\/div>\n<\/div>\n

\n
\n

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

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>posted another gain rising 1% to 22384 despite accelerated yen strengthening against the dollar. Chinese stocks reversed most of previous session\u2019s gains: the\u00a0Shanghai Composite Index\u00a0<\/em>is 1.1% lower and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is down 0.7%. Australia\u2019s All Ordinaries Index is 0.2% higher with Australian dollar extending gains against the US dollar.<\/p>\n

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

\n
<\/div>\n
\n

Brent\u00a0<\/a>down on higher US output<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are edging lower today on concerns about rising US oil output. Traders are digesting the International Energy Agency Executive Director Fatih Birol\u2019s comment the United States will overtake Russia as the world\u2019s biggest oil producer by 2019. Prices rose Monday: April Brent crude settled 0.3% higher at $67.50 a barrel on Monday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

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 Technology shares lead US broad stock market US stocks\u00a0extended gains led by technology shares. The\u00a0S&P 500\u00a0rose 1.2% to 2779.60 with ten of 11 main sectors closing higher. The\u00a0Dow Jones\u00a0industrial average added 1.6% to 25709.27. The\u00a0Nasdaq\u00a0composite index rose 1.2% to 7421.46. Dow and S&P 500 rose for a third straight session. The dollar weakened: […]<\/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-122314","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/122314","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=122314"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/122314\/revisions"}],"predecessor-version":[{"id":127227,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/122314\/revisions\/127227"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=122314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=122314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=122314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}