{"id":128000,"date":"2018-06-07T06:39:57","date_gmt":"2018-06-07T10:39:57","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128000"},"modified":"2018-06-07T06:39:57","modified_gmt":"2018-06-07T10:39:57","slug":"financials-lead-us-equities-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/financials-lead-us-equities-rally\/","title":{"rendered":"Financials lead US equities rally"},"content":{"rendered":"
June 7, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP Nasdaq logs third consecutive record<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>extended gains on Wednesday led by financial shares. The\u00a0S&P 500<\/a>\u00a0rose 0.9% to 2772.35, with financial shares up 1.8%. The\u00a0Dow Jones\u00a0<\/em>industrial rallied 1.4% to 25146.39.\u00a0Nasdaq\u00a0<\/em>composite index gained 0.7% to 7689.24, fresh record high. The dollar weakening accelerated: 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 0.3% to 93.582 and is lower currently. Stock index futures point to higher openings today.<\/p>\n

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Bank stocks rallied as interest rates tracked rising Treasury yields. Rising interest rates are bullish for bank stocks as they imply rising interest revenue for lending institutions. Economic news were also upbeat: the US trade deficit shrank 2.1% in April, hitting a seven-month low.<\/p>\n

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

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ECB considers ending stimulus program<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>ended marginally lower on Wednesday as European Central Bank policy makers indicated the central bank considers ending bond-buying program. Both the\u00a0British Pound\u00a0<\/em>and\u00a0euro\u00a0<\/em>continued climbing against the dollar and both are rising currently. The Stoxx Europe 600 added 0.01 points. Germany\u2019s\u00a0DAX 30\u00a0<\/em>rose 0.3% to 12830.07. France\u2019sCAC 40\u00a0<\/a>slipped 0.1% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>ended 0.3% higher at 7712.37. Indices opened 0.2% – 0.5% higher today.<\/p>\n

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Euro was boosted by reports the central bank will start discussions about winding down its 30 billion euros ($35 billion) a month bond buying program when policy makers meet next week in Riga, Latvia. Italian stocks gained, and the 5 Star Movement and League government faces a vote of confidence today in the lower Chamber of Deputies after it won the vote in Italy\u2019s upper chamber of parliament on Tuesday.<\/p>\n<\/div>\n<\/div>\n

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Nikkei leads Asian indices advance<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are rising today.\u00a0Nikkei\u00a0<\/em>ended 0.8% higher at 22815.43 despite yen gain against the dollar. China\u2019s stocks are mixed: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.2% lower while Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.7%. Australia\u2019s All Ordinaries Index is up 0.5% as Australian dollar turned lower against the greenback.<\/p>\n

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

Brent futures prices\u00a0<\/b>are edging lower today as traders after a surprise build in US crude oil stock. The US Energy Information Administration reported that domestic crude supplies jumped unexpectedly by 2.1 million barrels to 436.6 million last week. Prices slipped yesterday: August Brent crude lost 0.03% to $75.36 a barrel on Wednesday.<\/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 SP Nasdaq logs third consecutive record US stock market\u00a0extended gains on Wednesday led by financial shares. The\u00a0S&P 500\u00a0rose 0.9% to 2772.35, with financial shares up 1.8%. The\u00a0Dow Jones\u00a0industrial rallied 1.4% to 25146.39.\u00a0Nasdaq\u00a0composite index gained 0.7% to 7689.24, fresh record high. The dollar weakening accelerated: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, […]<\/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-128000","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128000","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=128000"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128000\/revisions"}],"predecessor-version":[{"id":128004,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128000\/revisions\/128004"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=128000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=128000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=128000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}