{"id":123089,"date":"2018-03-13T07:10:31","date_gmt":"2018-03-13T11:10:31","guid":{"rendered":"http:\/\/countingpips.com\/?p=123089"},"modified":"2018-06-01T15:42:15","modified_gmt":"2018-06-01T15:42:15","slug":"us-equities-pull-back-ahead-of-inflation-report","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/us-equities-pull-back-ahead-of-inflation-report\/","title":{"rendered":"US equities pull back ahead of inflation report"},"content":{"rendered":"
March 13, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP 500, Dow slip while Nasdaq rises<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>ended mostly lower Monday after Friday rally. The\u00a0S&P 500\u00a0<\/em>slipped 0.1% to 2783.02 led by industrial stocks down more than 1.2%. The\u00a0Dow Jones\u00a0<\/a>industrial fell 0.6% to 25178.61. The\u00a0Nasdaq\u00a0<\/em>composite index however rose 0.4% to 7588.32. The dollar weakened snapping three-session strengthening streak: 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, fell 0.2% to 89.92. Stock indices futures indicate higher openings today.<\/p>\n

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Stock valuations are still high after volatility increased sharply following the January upbeat jobs report which triggered broad market selloff. The February jobs report was strong too with 313,000 new jobs created, the biggest gain since mid-2016 with in the number of Americans joining the labor force also increasing. However the below expected 0.1% wage growth in February eased worries inflation might be accelerating which would compel the Federal Reserve to take a more aggressive approach to interest rate increases making equities less attractive as borrowing costs rise for companies. The inflation report due today at 13:30 CET will be closely watched with a surprise rise in core inflation, which excludes volatile food and energy prices, raising the likelihood of four rate hikes this year.<\/p>\n<\/div>\n<\/div>\n

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European stocks rise sixth session straigth<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>rose on Monday as upbeat US nonfarm payroll report last Friday boosted investors risk appetite. The\u00a0euro\u00a0<\/em>joined the\u00a0British Pound\u2019s\u00a0<\/em>climb against the dollar. The Stoxx Europe 600 index rose 0.3%, sixth consecutive win. The\u00a0DAX 30\u00a0<\/em>jumped 0.6% to 12418.39. France\u2019s\u00a0CAC 40\u00a0<\/em>added less than 0.1% while UK\u2019s\u00a0FTSE 100\u00a0<\/a>lost 0.1% to 7214.76. Indices opened flat to 0.3% higher today.<\/p>\n

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DAX got additional boost from German utility stocks after major energy producer RWE reached a deal with E. ON. RWE will take E. ON\u2019s renewable power generation assets \u2013 Innogy, in a $27.1 billion bid. RWE shares jumped 9.2%, and E. ON rose 5.4%.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>rose 2.3% to 21962 helped by resumed yen slide against the dollar. Chinese stocks are falling on news the country was planning to merge its banking and insurance regulators: theShanghai Composite Index\u00a0<\/em>is down 0.5% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.1% lower. Australia\u2019s All Ordinaries Index is down 0.4% on lower iron ore prices and Australian dollar strength against the US dollar.<\/p>\n

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

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Brent\u00a0<\/a>up on rising US output<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are extending losses today on rising US crude output. Prices fell Monday after the Energy Information Administration report crude production from seven major US shale plays is expected to climb by 131,000 barrels a day in April to 6.954 million barrels a day. May Brent crude settled 0.8% lower at $64.95 a barrel on Monday.<\/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 SP 500, Dow slip while Nasdaq rises US stocks\u00a0ended mostly lower Monday after Friday rally. The\u00a0S&P 500\u00a0slipped 0.1% to 2783.02 led by industrial stocks down more than 1.2%. The\u00a0Dow Jones\u00a0industrial fell 0.6% to 25178.61. The\u00a0Nasdaq\u00a0composite index however rose 0.4% to 7588.32. The dollar weakened snapping three-session strengthening streak: the\u00a0live dollar index\u00a0data show 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-123089","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123089","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=123089"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123089\/revisions"}],"predecessor-version":[{"id":127201,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123089\/revisions\/127201"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=123089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=123089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=123089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}