{"id":127811,"date":"2018-06-05T06:15:24","date_gmt":"2018-06-05T10:15:24","guid":{"rendered":"http:\/\/countingpips.com\/?p=127808"},"modified":"2018-06-05T06:15:24","modified_gmt":"2018-06-05T10:15:24","slug":"technology-leads-us-stocks-advance","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/technology-leads-us-stocks-advance\/","title":{"rendered":"Technology leads US stocks advance"},"content":{"rendered":"
June 5, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq closes at record<\/h2>\n<\/div>\n<\/div>\n

US markets\u00a0<\/b>extended gains Monday led by technology shares. The\u00a0S&P 500\u00a0<\/em>gained 0.5% to 2746.87 with seven of its 11 sectors finishing higher.\u00a0Dow Jones\u00a0<\/a>industrial advanced 0.7% to 24813.69. The\u00a0Nasdaq\u00a0<\/em>composite index climbed 0.7% to record high 7606.464. The dollar weakened:\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, slid 0.2% to 94.004 but is rising currently. Stock index futures point to higher openings today.<\/p>\n

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Market sentiment remained upbeat after positive May jobs report Friday which showed unemployment fell to 18-month low of 3.8%. Treasury yields rose. Traders of fed funds futures are pricing in a 93.8% probability of a rate hike at June 12-13 Fed meeting as the increase in average hourly earnings at 2.7% over a year ago was better than an expected 2.6% steady gain. There will be no Federal Reserve speeches as the central bank is in its so-called blackout period ahead of its June meeting. Economic data were weak: factory orders fell by above expected 0.8% in April due to a decline in commercial aircraft.<\/p>\n<\/div>\n<\/div>\n

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FTSE 100 leads European indices gains<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>extended gains on Monday. The\u00a0British Pound\u00a0<\/em>turned lower against the dollar while\u00a0euro\u00a0<\/em>climbed, with the two currencies moving in opposite directions of their yesterday moves currently. The Stoxx Europe 600 index gained 0.3%. The\u00a0DAX 30\u00a0<\/em>added 0.2% to 12749.45 and France\u2019s\u00a0CAC 40\u00a0<\/em>ended 0.4% higher. UK\u2019s\u00a0FTSE 100\u00a0<\/a>rallied 0.9% to 7768.22. Indices opened flat to 0.3% lower today.<\/p>\n

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Societe Generale shares rose 0.7% after a Financial Times report that the French bank was in early stage talks with the Italian lender UniCredit about a possible merger. Economic data were weak: producer prices in euro-zone remained steady when 0.3% gain was expected, and Sentix\u2019s investor confidence index for the euro economy came in at 9.3, down from 19.2 in May, marking a fifth straight decline.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are mixed today against the background of a breakdown of US-China trade talks over the weekend with no agreement.\u00a0Nikkei\u00a0<\/em>rose 0.3% to 22539.54 as yen slide against the dollar slowed. Chinese stocks are rising as Caixin China reported its services purchasing managers’ index remained unchanged at 52.9 in May: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 0.8% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.3% higher. Australia\u2019s All Ordinaries Index however is down 0.5% despite the Australian dollar\u2019s turn lower against the US dollar.<\/p>\n

\"HK50\"<\/p>\n

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Brent<\/a>\u00a0up<\/h2>\n

Brent futures prices\u00a0<\/b>are higher today. Prices fell Monday on concerns that the Organization of Petroleum Exporting Countries could lift its crude output curbs at the meeting later this month. August Brent crude settled 2% lower at $75.29 a bar.<\/p>\n<\/div>\n<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
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<\/div>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Nasdaq closes at record US markets\u00a0extended gains Monday led by technology shares. The\u00a0S&P 500\u00a0gained 0.5% to 2746.87 with seven of its 11 sectors finishing higher.\u00a0Dow Jones\u00a0industrial advanced 0.7% to 24813.69. The\u00a0Nasdaq\u00a0composite index climbed 0.7% to record high 7606.464. The dollar weakened:\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-127811","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127811","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=127811"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127811\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=127811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=127811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=127811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}