{"id":127904,"date":"2018-06-06T06:18:34","date_gmt":"2018-06-06T10:18:34","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=127904"},"modified":"2018-06-06T08:39:20","modified_gmt":"2018-06-06T12:39:20","slug":"technology-continuing-rally-leads-us-stocks-advance","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/technology-continuing-rally-leads-us-stocks-advance\/","title":{"rendered":"Technology continuing rally leads US stocks advance"},"content":{"rendered":"
June 6, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq books second record in a row<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>advance continued Tuesday with technology shares in the lead still. The\u00a0S&P 500\u00a0<\/em>ended less than 0.1% higher at 2748.79.\u00a0Dow Jones\u00a0<\/em>industrial average however slipped less than 0.1% to 24799.98 led by Goldman Sachs down 0.7%. The\u00a0Nasdaq\u00a0<\/a>composite index logged second back to back record climbing 0.4% to 7637.86. The dollar weakening continued: 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, slipped 0.2% to 94.774 and is down currently. Stock index futures indicate higher openings today.<\/p>\n

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Technology shares tracked Netflix and Apple gains, with Apple hitting fresh record as the company announced new software upgrades for all its products. Financial shares fell as Treasury yields declined. Economic news were positive: the Institute for Supply Management services index\u2019s increase to 58.6 in May from 56.8 in April was bigger than expected, with Markit\u2019s composite PMI performance also exceeding expectations.<\/p>\n<\/div>\n<\/div>\n

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

European stock indices\u00a0<\/b>pulled back Tuesday led by Italian stocks as Italy\u2019s Prime Minister Giuseppe Conte\u2019s first speech unsettled investors. The\u00a0British Pound<\/em>\u00a0joined\u00a0euro\u2019s\u00a0<\/em>climb against the dollar and both currencies are rising currently. The Stoxx Europe 600 fell 0.3%. The German\u00a0DAX 30\u00a0<\/a>rose 0.1% to 12787.13. France\u2019s\u00a0CAC 40<\/em>\u00a0lost 0.2% and UK\u2019s\u00a0FTSE 100<\/em>tumbled 0.7% to 7686.80. Indices opened 0.1% – 0.3% higher today.<\/p>\n

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Italian stocks fell after Italian Prime Minister Giuseppe Conte mentioned the new coalition government wants to cut corporate and individual taxes while increasing welfare spending. Euro advanced on report the European Central Bank would use its June 14 policy meeting to discuss an exit from its quantitative easing program. Pound turned higher after Markit reported UK\u2019s services sector PMI\u2019s rise to 54 in May from 52.8 in April was steeper than expected. In other economic news the final May reading on euro-zone services activity was downgraded to 53.8 from 53.9 in April.<\/p>\n<\/div>\n<\/div>\n

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Hang Seng leads Asian indices advance<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher today.\u00a0Nikkei\u00a0<\/em>gained 0.4% to 22625.73 as the yen accelerated slide against the dollar. Chinese stocks are higher: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 0.1% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 1% higher. Australia\u2019s All Ordinaries Index is up 0.5% with Australian dollar turning higher against the greenback as Australia\u2019s economy recorded stronger than expected first quarter growth.<\/p>\n

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

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

Brent futures prices\u00a0<\/b>are gaining today after reports Venezuela may halt some crude oil exports as traders expect a drop in US crude oil inventories. The American Petroleum Institute reported late Tuesday that US crude inventories fell by 2 million barrels. Prices ended higher yesterday: August Brent gained 0.1% to $75.38 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/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 Nasdaq books second record in a row US stock market\u00a0advance continued Tuesday with technology shares in the lead still. The\u00a0S&P 500\u00a0ended less than 0.1% higher at 2748.79.\u00a0Dow Jones\u00a0industrial average however slipped less than 0.1% to 24799.98 led by Goldman Sachs down 0.7%. The\u00a0Nasdaq\u00a0composite index logged second back to back record climbing 0.4% to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-127904","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127904","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=127904"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127904\/revisions"}],"predecessor-version":[{"id":127906,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/127904\/revisions\/127906"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=127904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=127904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=127904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}