{"id":125823,"date":"2018-04-27T06:29:30","date_gmt":"2018-04-27T10:29:30","guid":{"rendered":"http:\/\/countingpips.com\/?p=125823"},"modified":"2018-06-01T15:39:49","modified_gmt":"2018-06-01T15:39:49","slug":"technology-shares-lead-us-market-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/technology-shares-lead-us-market-rally\/","title":{"rendered":"Technology shares lead US market rally"},"content":{"rendered":"
April 27, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Facebook surge leads technology shares rally<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>extended gains on Thursday on positive corporate reports.\u00a0Dow Jones\u00a0<\/em>industrial average added 1% to 24322.34. The\u00a0S&P 500\u00a0<\/em>rose 1% to 2666.94 with nine of the 11 main sectors ending higher. The\u00a0Nasdaq\u00a0<\/a>composite rallied 1.6% to 7238.06. The dollar strengthening persisted : 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 0.4% to 91.546. Stock indices futures point to mixed openings today.<\/p>\n

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Facebook shares surged 9.1% after earnings beat forecasts, and technology shares followed suit lifted by better than expected results. So far this season, more than 80% S&P 500 companies have beaten forecasts, according to FactSet. The yield on 10-year Treasury notes declined from the psychologically important 3% level. Economic news were positive also: weekly initial jobless claims dropped to 209,000, the lowest level since December 1969. US durable goods orders climbed 2.6% in March, due to a 44.5% surge in commercial plane orders. And US trade deficit in goods narrowed 10.3% to $68 billion last month.<\/p>\n

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

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European indices rebound as euro falls<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>ended solidy higher on Thursday as\u00a0euro\u00a0<\/em>fell after the ECB held policy unchanged. The\u00a0British Pound\u2019s<\/em>extended losses against the dollar though currently is edging higher. The Stoxx Europe 600 index surged 0.9%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>rose 0.6% to 12500.47. France\u2019s\u00a0CAC 40\u00a0<\/em>gained 0.7% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>ended 0.6% higher at 7421.43. Indices opened 0.1% – 0.6% higher today.<\/p>\n

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While it was widely expected that the ECB would hold the policy unchanged investors were anxious to see when the policy makers planned to end the stimulus program. But nothing new was in ECB president Draghi\u2019s press conference or ECB\u2019s statement other than restating the bond buying program will continue until end of September and beyond.<\/p>\n<\/div>\n<\/div>\n

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Asian markets recover<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher today against the backdrop of falling geopolitical tensions with North and South Korea summit underway.\u00a0Nikkei\u00a0<\/em>rose 0.7% to 22467.87 as yen resumed weakening against the dollar and the Bank of Japan on Friday dropped its target date for reaching 2% inflation. Chinese stocks are gaining: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.2% higher and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.7%. Australia\u2019s All Ordinaries Index is up 0.7% as Australian dollar fall against the greenback continues.<\/p>\n

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Brent\u00a0<\/a>slides<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are edging lower today. They ended higher yesterday on the possibility that the US will re-impose sanctions on Iran: Brent for June settlement rose 1% to close at $74.74 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 Facebook surge leads technology shares rally US stocks\u00a0extended gains on Thursday on positive corporate reports.\u00a0Dow Jones\u00a0industrial average added 1% to 24322.34. The\u00a0S&P 500\u00a0rose 1% to 2666.94 with nine of the 11 main sectors ending higher. The\u00a0Nasdaq\u00a0composite rallied 1.6% to 7238.06. The dollar strengthening persisted : the\u00a0live dollar index\u00a0data show the ICE US Dollar […]<\/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-125823","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125823","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=125823"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125823\/revisions"}],"predecessor-version":[{"id":125827,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125823\/revisions\/125827"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=125823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=125823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=125823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}