{"id":126863,"date":"2018-05-18T06:48:34","date_gmt":"2018-05-18T10:48:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=126863"},"modified":"2018-06-01T15:39:46","modified_gmt":"2018-06-01T15:39:46","slug":"technology-slump-weighs-on-sp-500","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/05\/technology-slump-weighs-on-sp-500\/","title":{"rendered":"Technology slump weighs on SP 500"},"content":{"rendered":"
May 18, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Stocks slip while bond yields keep advancing<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>slipped on Thursday led by technology shares.\u00a0Dow Jones\u00a0<\/em>industrial average lost 0.2% to 24713.98. The\u00a0S&P 500\u00a0<\/em>slid less than 0.1% to 2720.13. The\u00a0Nasdaq\u00a0<\/a>composite fell 0.2% to 7382.47. The dollar strengthening accelerated again: 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 0.2% to 92.446 but is lower currently. Stock indices futures indicate mixed openings today.<\/p>\n

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Bond yields continued to rise with 10-year Treasury note yield near 3.1%, a seven year high. Technology stocks followed Cisco\u2019s lead which slumped 0.5% after downbeat report. In economic news initial jobless claims rose by 11,000 to 222,000 last week, the highest level in a month, but still near multi-decade lows. The Philadelphia Fed manufacturing index rose sharper than expected.<\/p>\n<\/div>\n<\/div>\n

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Energy shares lead European stocks higher<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>extended gains on Thursday led by energy. The\u00a0euro\u00a0<\/em>continued the slide against the dollar while theBritish Pound\u00a0<\/em>extended gains, with both rising currently. The Stoxx Europe 600 index rose 0.7%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>gained 0.9% to 13114.61. France\u2019s\u00a0CAC 40\u00a0<\/em>outperformed jumping 1% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>added 0.7% to 7787.97. Markets opened flat to lower today.<\/p>\n

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British Pound was buoyed by news Britain plans to stay in Europe\u2019s customs union after Brexit on a temporary basis to avoid a hard border with Ireland.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mostly higher today.\u00a0Nikkei\u00a0<\/em>rose 0.4% to three-and-half month high 22930.36 helped by continued yen slide against the dollar. Chinese stocks are higher despite President Trump\u2019s comment China had become \u201cspoiled\u201d and he doubted trade negotiations would be successful: the\u00a0Shanghai Composite Index\u00a0<\/em>is 1.2% higher and Hong Kong\u2019sHang Seng Index\u00a0<\/em>is up 0.5%. Australia\u2019s All Ordinaries Index is down 0.1% as Australian dollar turned higher against the greenback.<\/p>\n

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

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

Brent futures prices\u00a0<\/b>are steady today on strong demand. They ended marginally higher yesterday, breaching above $80 during the session: Brent for July settlement closed at $79.30 a barrel on Thursday.<\/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 Stocks slip while bond yields keep advancing US stocks\u00a0slipped on Thursday led by technology shares.\u00a0Dow Jones\u00a0industrial average lost 0.2% to 24713.98. The\u00a0S&P 500\u00a0slid less than 0.1% to 2720.13. The\u00a0Nasdaq\u00a0composite fell 0.2% to 7382.47. The dollar strengthening accelerated again: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength […]<\/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-126863","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/126863","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=126863"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/126863\/revisions"}],"predecessor-version":[{"id":126867,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/126863\/revisions\/126867"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=126863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=126863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=126863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}